Advertisement
Australia markets closed

  • ALL ORDS

    8,416.60
    -57.70 (-0.68%)
     

  • ASX 200

    8,150.00
    -55.20 (-0.67%)
     

  • AUD/USD

    0.6799
    -0.0045 (-0.65%)
     

  • OIL

    74.45
    +0.74 (+1.00%)
     

  • GOLD

    2,673.20
    -6.00 (-0.22%)
     

  • Bitcoin AUD

    90,775.29
    -280.33 (-0.31%)
     

  • XRP AUD

    0.78
    -0.00 (-0.54%)
     

  • AUD/EUR

    0.6190
    -0.0007 (-0.12%)
     

  • AUD/NZD

    1.1031
    +0.0024 (+0.22%)
     

  • NZX 50

    12,619.94
    +47.28 (+0.38%)
     

  • NASDAQ

    20,035.02
    +241.67 (+1.22%)
     

  • FTSE

    8,280.63
    -1.89 (-0.02%)
     

  • Dow Jones

    42,352.75
    +341.16 (+0.81%)
     

  • DAX

    19,120.93
    +105.52 (+0.55%)
     

  • Hang Seng

    22,736.87
    +623.36 (+2.82%)
     

  • NIKKEI 225

    38,635.62
    +83.56 (+0.22%)
     

Old iPhone sells for $60,000 at auction

Tamika Seeto
·Finance Reporter
·2-min read
Steve Jobs with first generation iPhone in 2007. Australian money notes.
Have you got one of these lying around? (Source: Getty)

Time to rummage through your drawers. A first generation iPhone sold for more than $60,000 over the weekend - almost 50 times its original price.

The winning bidder, who lives in Australia, paid an eye-watering US$39,339.60 (about $62,909) for the unopened 2007 device.

The 8GB iPhone was still in its original factory-sealed box, according to Louisiana-based auction house LCG Auctions, who said it was “virtually flawless”.

“Collectors and investors would be hard pressed to find a superior example,” it said.

“Relevance and rarity comprise a winning formula for this red-hot collectible.”

The iPhone was first introduced to the world by Steve Jobs on January 9, 2007 and retailed for US$499-$599 at the time.

Apple iPhone first generation in original packaging.
The iPhone originally retailed for US$499-$599. (Source: LCG Auctions)

It soon became Apple’s most successful product and revolutionised the smartphone industry.

The original iPhone featured either 4GB or 8GB of storage, a 2-megapixel camera and a 3.5-inch display.

Today, the latest iPhone 14 offers 128, 156 or 512GB of storage, a 12-megapixel main camera and a 6.10-inch display.

Mark Montero, the founder of LCG auctions, told the Wall Street Journal he believed the sale was a record price for a first-generation iPhone.

“An item like this is something everyone can relate to,” Montero said.

“It has a lot going for it as a collectible investment.”

LCG Auctions said the seller, an American man, decided to put the iPhone up for auction after seeing another first-generation iPhone sell for more than US$35,000 in August.

According to the auction listing, 28 bids were placed for the phone. The price reached over US$10,000 on October 14, before a surge of bids drove up the price to more than US$30,000 on October 16.

So, if you have some old tech lying around at home, it could be worth pulling it out. It might be worth a small fortune.

Follow Yahoo Finance on Facebook, LinkedIn, Instagram and Twitter, and subscribe to the free Fully Briefed daily newsletter.