In a remarkable auction held in the US, an unopened first-edition 4GB iPhone sold for an astounding $190,372.80 (£145,416), defying the usual trend of iPhones losing value quickly. This particular model, considered the “Holy Grail” by iPhone collectors, was produced in limited quantities, contributing to its high desirability.
Conducted by LCG Auctions, the lot attracted significant attention, with a total of 28 bids, eventually selling for nearly 400 times its original retail price. The final price includes administrative costs in addition to the hammer price paid by the buyer as a “buyer’s premium,” which is retained by the auction house.
Described as an “exceedingly rare, factory-sealed, first-release 4GB model in exceptional condition,” the iPhone garnered immense praise for its impeccable surface and edges, as well as a clean factory seal with precise details.
Initially priced at $599 (£457), experts anticipated the auctioned item to fetch between $50,000 and $100,000, but it significantly surpassed expectations, shattering previous records.
Introduced in 2007 by Apple’s former CEO, Steve Jobs, the 4GB model faced discontinuation merely two months after its launch due to sluggish sales. Customers predominantly opted for the 8GB model, offering double the storage space at a slight $100 premium.
Periodically, various rare Apple memorabilia associated with Mr. Jobs’ life and career find their way to auctions, including personal items like a high school yearbook poem, college photos, and a business card dating back to 1978.
Steve Jobs, a visionary and the co-founder of Apple, passed away in 2011 at the age of 56 after battling pancreatic cancer. Apple hailed him as a source of countless innovations that have significantly improved lives worldwide, showcasing his impact through iconic creations like the iMac, iPod, iPhone, and iPad.