First-generation iPhone sells at auction for $190K, roughly 380 times its original price

A first-generation iPhone sold at auction for $190,373, nearly 380 times its original price of $499 when the innovative device went on sale in 2007.

LCG Auctions, which organized Sunday’s sale, said the 4GB iPhone model was 20 times rarer than the 8GB model released at the same time for $599. This is largely because the 4 GB model was discontinued two months after launch due to customer preference for the larger memory size.

“A new bar was set on Sunday night,” said Mark Montero, founder of LCG Auctions. “We are delighted to be a part of this fantastic record sale.”

It is the third original iPhone to sell for record prices at auction last year. An 8GB model sold for $63,356 in February, and another 8GB model sold for $39,340 in October 2022. All came factory-sealed in their original packaging.

The iPhone is one of the most successful electronic products in the world and helped make Apple the first publicly traded company with a market value of $3 trillion. The Cupertino, California-based company reached that milestone 16 years after the first iPhones were sold.