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First-generation iPhone could sell for more than $50,000 at auction

By News feed Pubilshed 04/02/2023

Estimated price would surpass sale of similar model that went for more than $39,000 last year

An unopened first-generation Apple iPhone is set to sell for $50,000 at auction on Thursday.

Karen Green received the 2007 model as a gift but left the box unopened because her existing mobile network meant she would have to pay hefty fees if any lines were to be terminated, Business Insider reported.

That unopened model will now sell for far more than the original $599 price tag. LCG Auctions predicts the phone will sell for upwards of $50,000. Bidding runs until February 19.

A similar unopened first-generation Apple iPhone sold for more than $39,000 at auction last year.

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Ms Green contacted LCG Auctions when she heard about that sale. She says intends to use the profit from her iPhone's auction to support her tattoo business.

LCG Auctions founder Mark Montero said he was surprised by the authenticity of Ms Green's unopened iPhone “because we had got so many duds”.

Ms Green first became aware of her unused device's value during a 2019 appearance on the TV show Doctor & the Diva, whose appraiser valued the phone at $5,000.

The first-generation iPhone could hold up to 4GB of memory for $499 or 8GB for $599.

It also came with a 3.5-inch screen and a two-megapixel camera but did not support third-party apps.

Apple has sold more than 1 billion iPhones since 2007.