Latest News

First-Generation iPhone Auctioned Off For Over S$84K, 100 Times Higher Than Original Price

Unopened First-Generation iPhone Sells For More Than S$84K At Auction

The latest Apple gadgets have always been the craze among tech lovers.

With products such as the iPhone 14 on the market, older models have, unfortunately, been left behind in the dust.

However, it seems that demand for such items still exists among consumers.

Recently, an unopened first-generation iPhone sold for more than S$84,000 during an auction.

Unopened first-generation iPhone auctioned off for over S$84,000

USA Today reports that LCG Auctions started the auction for the phone on 2 Feb.

Source: LCG Auctions

While the expected selling price was US$50,000 (~S$67,000), the amount it sold for eventually exceeded it by a fairly large amount.

The bidding for the phone began at US$2,500 (~S$3,300), and after 27 bids, it sold for US$63,356.40 (~S$85,000) on Sunday (19 Feb).

This is around 100 times its original price.

Original owner left it unopened

Karen Green was the original owner of the phone and received it back in 2007 as a gift from her friends after getting a management position at PetSmart, Business Insider reports.

This was the same year the first iPhone came out.

 

However, she’d already had three phone lines with Verizon and iPhones only use AT&T. She thus decided to leave the unopened phone on her shelf to avoid an expensive termination fee.

“I didn’t want to get rid of my phone, and I figured, ‘It’s an iPhone, so it will never go out of date’,” she said. Her friends may have purchased it for US$499 (~S$670) to US$599 (~S$930).

In 2019, Green had the phone appraised after hearing of another original, unopened iPhone going for US$10,000 (~S$13,400) on eBay.

As it was an 8GB phone and was still within its packaging, the estimated worth was around US$5,000 (~S$6,700).

First introduced in trade show

According to CBS News, Steve Jobs introduced the first-generation iPhone on 9 Jan 2007, at MacWorld, a trade show in San Francisco.

Source: Wired

It was available on the market five months later, with its sleek design and innovative features causing it to be a hit among gadget enthusiasts.

This apparently isn’t the first time first-generation iPhones have appeared during auctions, either.

One went for S$47,454.94 (US$35,414) in August and another for S$52,714.46 (US$39,339) in October last year, both through LCG Auctions.

Such reports aren’t all that surprising either when considering Apple’s loyal fan base.

In 2022, an interested buyer purchased an Apple computer prototype from the 1970s for more than S$907,183.38 (US$677,000).

Have news you must share? Get in touch with us via email at news@mustsharenews.com.

Featured image adapted from History and LCG Auctions.

Sudeshna Dhar

Sudeshna is a lover of all romcoms, especially Gone Girl (2014).

Recent Posts

Passenger on US flight slammed for bringing Great Dane as ’emotional support’ dog

On the other hand, some said they'd prefer sitting next to a massive dog than…

23 Dec 2024, 10:12 am

Nearly 20 cats abandoned in Bedok flat filled with rubbish, some injured after jumping from windows

Some sustained injuries after jumping from windows, while others starved to death.

23 Dec 2024, 9:52 am

Continuous heavy traffic expected at S’pore-JB checkpoints till end of 2024: ICA

A record of more than 553,000 travellers crossed both checkpoints on 13 Dec.

22 Dec 2024, 7:25 pm

H5N1 poses ‘highest risk’ of becoming next pandemic, S’pore health authorities monitoring situation

There has been no year-end Covid-19 wave, as had been expected.

22 Dec 2024, 6:42 pm

Wagyu beef worth S$5,700 found in car entering JB from S’pore, M’sian driver arrested

The beef was imported without a veterinary health certificate and halal certification.

22 Dec 2024, 5:40 pm

Long queue forms at Jalan Besar Stadium for tickets to ASEAN Championship semi-final

One fan started queueing as early as 7am.

22 Dec 2024, 4:50 pm