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29 September, 2023
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Would you pay $40,000 for a 2007 iPhone? Someone did.

The smartphone was initially projected to fetch at least $30,000, but it was eventually sold for more than 65 times its original price in 2007

Source: Money Review

When the first-generation iPhone was released in 2007, it cost $599. However, after 15 years, someone paid nearly $40,000 for the same phone.

An original iPhone, packaged in its original box and of course unopened, was bid on for $39,339.60 in an LCG Auctions auction that ended last Sunday.

"Collectors and investors will have a hard time finding a better example. Relevance and rarity make up the winning formula for this extremely 'hot' collectible," the iPhone's description read.

The smartphone was originally expected to "fetch" at least $30,000, but it was eventually sold for more than 65 times its original price in 2007.

Bidding began at $2,500 and reached close to $10,000 several hours before the auction ended. The price skyrocketed near the end of the process.

Apple co-founder and former CEO Steve Jobs described the phone fifteen years ago as a "combination of iPod, mobile phone, and Internet device" in one. The original iPhone featured a 3.5-inch screen, a 2-megapixel camera, and the Safari browser. It had 4 or 8 GB of storage before expanding to 16 GB.

It's worth noting that the current (plain) iPhone 14, released in September, has a 6.1-inch screen, a 12-megapixel camera, and up to 512 GB of storage, and costs $799 in the United States.

With information from and Business Insider

[This article was translated from its Greek original]


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