The original iPhone which is now a popular high-end collectible has reached a new high when it comes to monetary value. A rare factory-sealed original iPhone which went up for auction last month was sold for a sky-high price of $190,372.80, according to LCG Auctions.
What makes this unit a rare occurrence is that it"s one of the 4GB variants of the 1st generation iPhone that were produced in limited numbers. The auction amount is almost three times the previous highest iPhone auction price of $63,356 reported earlier this year. In another auction, a sealed original iPhone with a "Lucky You" sticker was sold for $40,320 in March this year.
As per LCG Auctions website, the final auction price of the device also includes the buyer"s premium and the final bid for the 4GB iPhone model was $158,644 placed by an unnamed bidder. The website claims that the first-release 4GB model was "never activated" and it is in "exceptional condition."
The bidding for the 4GB original iPhone started on June 30 at 5:00 PM EST and ended on July 16 at 9:05 PM EST. While the starting bid for the device was $10,000, the auction house had estimated it would sell for an amount somewhere between $50,000 to $100,000.
"The phone’s provenance is pristine as the consignor was part of the original engineering team at Apple when the iPhone first launched. Collectors and investors would be hard-pressed to find a superior example. Relevance and rarity comprise a winning formula for this red-hot collectable," LCG Auctions said on its website.
In 2007, Apple released the original iPhone in 4GB ($499) and 8GB ($599) variants but the production of the 4GB variant was halted due to lagging sales. Later, the company replaced it with a 16GB variant with a price tag of $499 while reducing the price of the 8GB variant to $399.