CBS News - February 23, 2023 6:46 am

A first-generation iPhone sold at auction for $63,356.40 – more than 100 times its original price. The 2007 phone, which is still sealed in its box, was sold on LCG Auctions and was expected to go for $50,000, but exceeded that estimate by more than $13,000.

The bidding started at $2,500 and after 27 bids, the phone sold on Sunday.

The original owner of the phone, Karen Green, had it appraised in 2019. Because it was an 8GB — not 4GB — and was still in the original box, it was estimated to be worth $5,000.

Green received the iPhone in 2007 as a gift from her friends after landing a new job. But since she had already gotten a new phone, she decided not to open it. “I didn’t want to get rid of my phone, and I figured, ‘It’s an iPhone, so it will never go out of date,'” she said. Her friends likely bought the phone for $499 to $599.

Steve Jobs introduced the first iPhone on Jan. 9, 2007, at MacWorld, a trade show in San Francisco. It became available for purchase about five months later. Its slick design, responsive (and quite innovative at the time) touchscreen, web browsing capabilities and a 2-megapixel camera made it an instant hit.

First-release iPhones have been auctioned before. One sold for $35,414 in August and another for $39,339 in October through LCG.

Apple commands a very loyal fan base and collectors consider many of the company’s products cultural artifacts and landmarks in tech history. Last year, an early Apple computer prototype from the 1970s sold for more than $677,000.


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