First generation iPhone fetches owner over 100 times original market price

The iPhones, it seems, age like wine. A first-generation 8GB Apple iPhone, in its original packaging, sold for a whopping $63,356 (around AED 232,705) at an auction.

The sale, made almost 16 years after the iPhone's initial release, demonstrates the device's everlasting value and appeal.

The phone's owner, tattoo artist Karen Green, had originally received the phone from friends as a gift when she started a new job. Though she had never opened it, Green had kept the phone for several years, eventually bringing it onto the TV show Doctor and the Diva's Treasure Hunt Tuesday in 2019. On the show, expert Dr. Lori estimated that the phone was worth around $5,000.

However, when Green put the phone up for auction, it quickly became clear that it was worth far more than that. The starting bid was set at $2,500, but after 27 bids, the phone ultimately sold for over 100 times its original asking price of $599.

LCG Auctions, the company overseeing the sale, described the device as a "highly-desirable factory sealed first generation original Apple iPhone from 2007".

The fact that the phone was still in its original packaging helped to boost its value, as did the fact that it was the 8 GB version rather than the 4 GB model.

Green plans to use the proceeds from the sale to help fund her new cosmetic tattoo studio in New Jersey.

This is not the first time that a first-generation iPhone has sold for a high price at auction. In fact, the original iPhone has become a sought-after collectors' item in recent years. The device was first introduced by Steve Jobs in 2007 and was named Time Magazine's "invention of the year" in the same year. It was Apple's most successful product, selling over 6.1 million units worldwide.

While the original iPhone may seem quaint compared to the latest models, it was a groundbreaking device that forever changed the tech industry. Its touchscreen interface, lack of keyboard, and web browser paved the way for the smartphones we use today. The original home screen had 12 icons, including an iPod app that has since been replaced by Apple Music.

The latest sale demonstrates the device's enduring value and cultural significance. With interest in culturally relevant collectibles on the rise, it seems likely that we will continue to see high prices paid for first-generation iPhones in the future.