Unopened First-Generation iPhone Expected To Fetch More Than Rs $50,000 At Auction

An unopened first-generation iPhone from 2007 will be auctioned off for an estimated $50,000 (Rs 41 lakh), as per a report in The Guardian. The auction, held by LCG Auctions, began on Thursday and will continue until February 19.

The first iPhone, which retailed for $599 (Rs 49,225) at the time, featured a 3.5-inch screen with a 2-megapixel camera, as well as 4 GB and 8 GB storage options, internet access, and iTunes. It lacked an app store, ran on a 2G network and was only available on AT&T's network.

According to a report in CNN, cosmetic tattoo artist Karen Green appeared on the daytime television show "The Doctor & The Diva" in 2019. She said that her friends gave her the 8 GB of the phone version but she never broke the seal of the box. At the time, an appraiser on the show valued the phone at $5,000 (Rs 4.1 lakh). She decided to wait for some time so that the price could increase. 

Ms Green decided to sell the phone this year to support her cosmetic tattoo studio in New Jersey. Now, the phone is up for auction with bidding starting at $2,500. 

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"Almost 16 years old, the phone presents magnificently, showcasing sharp corners front and back, rich colour, and "case fresh" features.  The labels on the reverse are pristine beneath the seal and shelf wear is minimal.  This is the first original iPhone in acceptable condition to hit the auction block since the record-breaking sale in October.  A truly remarkable piece with great appeal to both collectors and investors alike," said the auction house in a statement.

In a similar incident, another unopened first-generation iPhone like auctioned off for over $39,000 in a listing by LCG Auctions that closed in October 2022. 

According to the outlet, Apple Co-Founder Steve Jobs spoke at Apple's annual Macworld Expo in 2007. He said, "We're going to make some history together today." He called the new smartphone a "revolutionary mobile phone" that will feature an iPod, phone and what he called an "Internet communicator." With regard to mobile web browsers, Mr Jobs commented, "It's bad out there today.It's a real revolution to bring real Web browsing to a phone."