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First-generation Apple iPhone sells for $280,000

The iPhone is considered the ‘holy grail’ among iPhone collectors.

Tamika Seeto
·Finance Reporter
Updated ·2-min read
Steve Jobs holding first iPhone
The first-generation iPhone was introduced by Steve Jobs in January 2007. (Source: Getty)

An original 2007 Apple iPhone has sold at auction for a staggering $279,295 (US $190,372.80) - more than 300 times its original sale price.

The first-generation 4GB iPhone, which originally retailed for $878 (US $599), was unused and still in its factory-sealed wrapping.

Auctioneer LCG Auctions described the brand new iPhone as “exceedingly rare” and in “exceptional condition”.

The original iPhone was first introduced by Steve Jobs in January 2007 and was released to the public for sale five months later.

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“The original iPhone included 4/8 GB of storage, an innovative touchscreen, a 2-megapixel camera, and a web browser. The iconic box featured a life-size image of the iPhone with 12 icons on the screen,” the auction description read.

It quickly became Apple’s most successful product and forever changed the smartphone industry, named Time Magazine’s Invention of the Year in 2007.

However, sales of the 4GB model lagged, with buyers opting to pay $100 more in exchange for the 8GB storage space. This resulted in Apple discontinuing the 4GB model just over two months after its release.

First-generation iPhone.
The first-generation iPhone was brand new and still in its factory-sealed wrapping. (Source: LCG Auctions)

“The original 4GB model is considered a ‘Holy Grail’ among iPhone collectors. Its extreme scarcity is directly related to its limited production,” the listing said.

The auction attracted 28 bids in total, with an opening bid of $10,000. According to the listing, the consignor was part of the original engineering team at Apple when the iPhone first launched.

The first-generation iPhone has proven to be a popular high-end collectible. In October last year, LCG Auctions sold an 8GB model for a record $57,706 (US $39,339). In February, they sold another 8GB model for another record $92,936 (US $$63,356).

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