2007 1st-gen iPhone sold for S$84,850 at auction, more than 100 times original price

Apple products in pristine condition sells for a lot after a few decades.

Belmont Lay | February 23, 2023, 02:40 AM

Follow us on Telegram for the latest updates: https://t.me/mothershipsg

A 2007 first-generation iPhone was sold for US$63,356.40 (S$84,850) at an auction -- more than 100 times its original price.

Still sealed in its box, the phone was sold on LCG Auctions and was expected to go for US$50,000 (S$66,962), BBC reported.

It ended up exceeding that estimate by more than US$13,000 (S$17,410) on Sunday.

The bidding started at US$2,500 on Feb. 2.

It got to its final price after 27 bids on Feb. 19.

8GB model, not 4GB model

The original owner of the phone, Karen Green, had it appraised in 2019.

As it was an 8GB model -- not a 4GB one and still in the original box -- it was estimated to be worth US$5,000 (S$6,696).

Friends of Green gave her the iPhone in 2007 after she got a new job.

But she already had a new phone, so she decided not to open it.

She said: "I didn't want to get rid of my phone, and I figured, 'It's an iPhone, so it will never go out of date'."

The phone likely retailed for between S$499 (S$668) to S$599 (S$802) back then.

Steve Jobs introduced the first iPhone on Jan. 9, 2007, at MacWorld, a trade show in San Francisco.

Highest price so far

In comparison to 2022's latest models, the first iPhone's specifications are puny by today's standards.

It includes an 8GB Samsung flash memory storage, a 2MP camera, and a 3.5-inch LCD screen.

Business Insider reported that Green sold the phone via LCG Auctions to fund her business.

She saw how much other unopened first-generation iPhones had sold for recently and decided it was time to let it go.

She said she would have held on to it for longer had she not needed the money.

In August 2022, one iPhone auctioned for US$35,414 (S$47,428).

In October, another unopened 2007 iPhone sold for US$39,339.60 (S$52,685).

Top photos via LCG Auctions & Getty