Think a 16-year old piece of tech is nothing but junk? Well, think again.
A first-generation iPhone from 2007 recently went under the hammer at an auction and sold for an insane amount. Someone actually bid and paid $63,356 dollars or over Rs 52 lakh for a 16-year-old iPhone.
A record-breaking bid
Karen Green, a tattoo artist in the United States, received the 8GB smartphone as a thank-you present for starting a new profession in 2007. This was the original iPhone, with a 3.5-inch display and a 2-megapixel camera that cost $599, a long cry from today’s greatest iPhone, which has a 6.7-inch display and a 48-megapixel camera.
Green’s iPhone was initially introduced as an AT&T exclusive and did not function with any other carriers. Green decided to keep the first-generation iPhone sealed in order to retain her Verizon connection.
16 years later, her decision to continue with Verizon paid off handsomely.
As pristine as it gets
Describing the iPhone at the auction the listing reads:
Almost 16 years old, the phone presents magnificently, showcasing sharp corners front and back, rich color, and “case fresh” features. The labels on the reverse are pristine beneath the seal and shelf wear is minimal. This is the first original iPhone in acceptable condition to hit the auction block since the record-breaking sale in October. A truly remarkable piece with great appeal to both collectors and investors alike.
The iPhone sold for $63,356.40, over 105 times the device’s original $599 retail price.
A completely sealed first-gen iPhone, a practically brand-new one can go for as high as tens of thousands of dollars. Last year, someone paid $39,000 for an unsealed first-generation iPhone.
In this particular case the auction was held by LCG Auctions. They opened the bidding at $2500 on February 2 and stopped taking bids on February 19. During this time, they received 27 bids. However, because the item even had its shrink wrap on, Green’s iPhone has set the record.
Resurging popularity of vintage iPhones
Vintage iPhones or the first generation of iPhones have seen a rise in popularity, because of Instagram and TikTok, as more and more social media influencers have started looking for the device for the aesthetic that its cameras provide. Plus, rocking a first-generation iPhone has become a status symbol of sorts for most tech-savvy millennials.
Then there are tech investors and collectors, along with Apple collectors. Apple collectors in particular often pay an insane amount of money for anything vintage Apple. A broken Apple 1 Computer that was restored went under the hammer for $1.5 million back in 2021. Imagine what it could have fetched had it been in pristine condition.
Similarly, an early Apple computer prototype from the 1970s sold for more than $677,500 last year. The kicker? The prototype wasn’t a functional one and never had been one.
How much are old first-generation iPhones going for?
A heavily used but working first-gen iPhone can go for as much as $100 on eBay without any accessories. Add the original box and set of accessories, albeit used slightly, and you will see the value jump almost 10X, to about $1100.
As stated Green’s iPhone has actually broken the record. Before this, someone paid $39,000 for an unsealed first-generation iPhone in 2022, and just a few months prior to that, someone paid $35,000.
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February 22, 2023 10:52:58 IST