First-generation iPhone auction might fetch up to $50,000; check what’s special about it

A first-generation Apple iPhone might fetch up to $50,000 (Rs 41 lakh approx.) in an auction. Even though this sounds unbelievable it is true. The Apple iPhone 2007 model currently owned by Karen Green is unopened and it is currently under auction till February 19. It is expected that the first generation brand new iPhone will fetch as much as $50,000 in the auction.

It is not the first time that first-generation iPhones are going under auction across the globe. The unopened iPhones (1^st gen) usually fetch between $30K – $50K. This particular auction is organised by LCG Auctions and is currently live. The closing day of the auction is February 19.

History of the iPhone

The first-generation iPhone that is undergoing auction was given to the Karen as she joined a job in 2007. As she already had multiple smartphones at that time and faced carrier compatibility issues, she could not use the iPhone. On valuating the device (in 2019), she got $5000 and was quite unhappy. However, she has opted to auction the device now and expects to get a fair price.

The iPhone was introduced by Steve Jobs on January 9, 2007 at MacWorld San Francisco. The device was released at retail for $499/ $599 on June 29, 2007. Speaking about the specifications, the device offered 4GB /8GB of storage, 2MP back camera, iOS 3, 3.5mm jack, 3.5 inch display and a 1400mAh battery.

“Almost 16 years old, the phone presents magnificently, showcasing sharp corners front and back, rich color, 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. Model A1203, Order MA712LL/A (8GB),” read the description on LCG auction website.