Times when Apple collectors paid big bucks for 2007 iPhone
An unopened Apple iPhone from 2007, which went up for auction at the end of June, has been sold for a record-setting price of $158,644 (approximately Rs. 1.3 crore). It beats the former price paid for a sealed 2007 iPhone that was set in February, by about 250%. Let's take a look at the times when the first-ever iPhone auctioned at exorbitant prices.
Why the first-ever iPhone sells for high prices
The original iPhone was produced for a short period and so there are not many of them left in existence. This makes the 2007 model very rare and highly collectible. The first-ever iPhone was also a revolutionary product that changed the way people interact with technology. Its historical significance drives up its value. Also, rare iPhones that are in sealed packaging command a premium.
Latest auction was of a rare 4GB iPhone from 2007
The iPhone auctioned for $158,644 or nearly 318 times its original price of $499, is a 4GB storage variant of the 2007 iPhone sealed in original packaging. LCG Auctions estimated the model would sell somewhere between $50,000-$100,000. Bidding started at $10,000. The highest bid stood at $42,000 till July 15. In the final few hours of the auction, prices jumped from $67,000 to $158,644.
The model was sold by a former Apple engineer
What makes this iPhone rare is the fact that it was from the first batch of models which went on sale following the iPhone's launch in June 2007. This iPhone was sold by an ex-Apple engineer who worked on the smartphone. Also from the same group, an 8GB sealed original iPhone went for $44,771 (roughly Rs. 36.7 lakh).
The latest auction breaks the record set in February
The latest auction currently holds the record for the highest price ever paid for an original sealed iPhone. It surpasses the former record, by almost 250%, set in February this year, which stands at $63,356 (about Rs. 52 lakh). That iPhone model, which offered 8GB storage, sold for almost 105 times its original retail price of $599 (roughly Rs. 49,000).
In October 2022, 8GB iPhone sold for Rs. 32 lakh
In October 2022, LCG Auctions saw another high-bidding sale of a first-generation iPhone. It was sold for $39.339.60 (about Rs. 32 lakh). The phone was released with a price tag of $599 in 2007. The then 15-year-old handset sold for almost 65 times its original retail cost. That model came with 8GB storage and a 2MP main camera.
Another original iPhone sold for over $35,000 in August 2022
Another unopened original iPhone sold for $35,414 (about Rs. 29 lakh) in an auction held by Boston-based RR auction house in August of last year. For reference, the iPhone auctioned in October sold almost twice that of the August prices.
2007's iPhone was hailed as 'Invention of the Year'
The first-ever iPhone was introduced by Steve Jobs on January 9, 2007. It came with 4GB/8GB of storage, an innovative touchscreen, a 2MP camera, and a web browser. It quickly became Apple's most successful product and forever changed the smartphone industry. The handset was also named 'Invention of the Year' in 2007 by Time Magazine.
