In a stunning display of the iPhone's enduring popularity, a first-generation iPhone has been sold at auction for an astonishing $190,373. This staggering figure represents nearly 380 times its original price of $499 when the groundbreaking device was first introduced to the market in 2007.
The auction, hosted by LCG Auctions, took place on July 16 and attracted considerable attention from collectors and technology enthusiasts alike. The particular model sold was the 4GB variant of the iPhone, which was twenty times rarer than its 8GB counterpart that was released simultaneously for $599. The scarcity of the 4GB model can be attributed to its discontinuation merely two months after its launch, as customers showed a clear preference for the larger memory size.
Mark Montero, the founder of LCG Auctions, expressed his enthusiasm about the record-breaking sale.
"A new bar was set on July 16. We are thrilled to be a part of this fantastic record-breaking sale," Montero voiced.
Montero's excitement is understandable considering the remarkable demand and high prices the original iPhones have been fetching at recent auctions.
In the past year alone, this marks the third time that an original iPhone has been sold for a record-breaking price at an auction. In February, an 8GB model managed to sell for an impressive $63,356, while another 8GB model fetched $39,340 in October 2022. Notably, all of these iPhones were sold in their original factory-sealed packaging, adding to their allure for collectors and enthusiasts.
The iPhone, without a doubt, has earned its place as one of the world's most successful electronic products. Its groundbreaking design, innovative features, and intuitive interface revolutionized the smartphone industry. In fact, the iPhone played a significant role in Apple becoming the first publicly held company to achieve a staggering $3tn market value. This milestone was reached 16 years after the initial release of the iPhone, demonstrating the lasting impact and enduring appeal of this iconic device.
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