The first-gen iPhone has become the most expensive iPhone ever sold. The 2007 model originally sold for $599 in 2007 or $881 in 2023 (adjusted for inflation). However, in this recent auction, the original iPhone sold for $190,372, which is more than 200 times its original price. And this isn’t the first time something like this has happened. The OG iPhones have sold up like this for jaw-dropping amounts before. We have catalogued some of those auctions and tried to connect the dots to understand what makes this model of iPhone so valuable.
First, the auctions:
Notable iPhone auctions wherein collectors paid top dollars 1. October 17, 2022: $39,339.60 (8GB model)This was carried out by LCG Auctions, just like many other auctions in this list. The bid started at $2,500 but soared up 5 times that by the end. There were no aftermarket stickers on the box. It was being extolled as being in “pristine” and “exceptional condition”.
Just so you know, earlier this year, in August, another 2007 iPhone sold for $35,414.
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2. Mar 17, 2023: $54,904 (8GB model)On March 17, 2023, the 8GB model of the 2007 iPhone got auctioned off by RR Auction and was sold for about $54,000 more than its original price. This was sold by an Apple employee who had advertised it as in “brand new, factory-sealed condition”.
This was however low compared to what another seller got in a similar auction just a month back.
3. Feb 21, 2023: $63,356.40 (8GB)This was about 105 times the OG price and was also managed by LCG Auctions. The iPhone was described as “Highly desirable factory sealed”. This was sold by Karen Green who chose to leave the iPhone unopened because it was gifted to her and was locked into the ATT network while she had other phones on Verizon connection.
4. July 17, 2023: $190,372 (4GB model)
Finally, just the other day, a 4GB model of this iPhone got sold off at the highest price price till date. LCG Auctions which handled the deal calls the 4GB model a “Holy Grail” because of its scarce availability. Very few units were made as people were flocking towards the 8GB model for the extra storage.
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That brings us to the other question we have:
Why is the original iPhone considered so valuable?The first iPhone was a disruptive innovation in the mobile phone space. It forever changed the smartphone market and was named Time Magazine Invention of the Year in 2007.
Apple loyalists and technology collectors appreciate how revolutionary it was and how rare it is now. So, if they get their hands on an unopened iPhone (2007) in mint condition, they are ready to pay big.
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