First Generation Apple iPhone Fetches $63,000 At Auction

Online auction last Sunday revealed the pleasing financial return for holding onto old technology, such as mobile phones.

CNN reported that a a first-generation 2007 iPhone sold for more than $63,000 in an online auction Sunday, more than 100 times its original cost.

The 2007 phone was dubbed a “first-edition” device by auctioneer LCG Auctions, and online photos show that the box had never been opened.

Original iPhone

So what exactly does the buyer get for $63,000?

Well of course the finest technology that was on offer nearly sixteen years ago.

Costing $599 in the US, the original iPhone was launched by the late Steve Jobs and offered early Apple adopters a 3.5-inch screen coupled with a 2-megapixel camera,.

There was a choice of 4GB and 8GB storage options, 2G network compatibility, and at the time the handset ran exclusively on AT&T’s network in the US (UK users could only get it on O2’s network).

Bidding on the unopened iPhone began earlier in February, with bids starting at $2,500.

According to LCG’s website, there was only 27 bids on the phone.

Mark Montero, founder of LCG Auctions, told CNN that 10 buyers vied for the iPhone and the winner was “an individual from the US.”

According to CNN, cosmetic tattoo artist Karen Green was gifted the 8GB version and never broke the seal.

The reason she never opened the box was down to the fact that she reportedly already had three phone lines with mobile operator Verizon.

Due to the fact that iPhones at the time could only use the network of competitor AT&T, Green reportedly was unwilling to pay hefty termination fees and risk losing her phone number.

Therefore Green left the phone on a shelf for many years, unopened and unused.

Steve Jobs

Another unopened first-generation iPhone like Karen Green’s sold for over $39,000 in a listing also by LCG Auctions that closed in October.

The late Steve Jobs has launched the original iPhone at Apple’s annual Macworld expo San Francisco back in 2007.

Steve Jobs opened his presentation with: “We’re going to make some history together today.”