Sealed, Gen 1 iPhone From 2007 Sells For 60 Times The Original Price

Apple Inc.'s AAPL first iPhone from 2007 was auctioned on Sunday for more than 60 times its original price. The unused 8GB iPhone was priced $599 when it first hit the market.

What Happened: An unopened first-generation original iPhone from 2007 has been auctioned off for $39,339. The flagship product was part of the "2022 Fall Premier Auction" by LCG Auctions that ran from Sept. 30 to Oct. 16. 

The device was introduced by Apple co-founder Steve Jobs in 2007. During the launch, Jobs famously referred to the iPhone as three products in one — "a widescreen iPod with touch controls, a revolutionary mobile phone, and a breakthrough internet communications device." 

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The first iPhone included an innovative touchscreen, a two-megapixel camera, and a web browser. Its packaging box featured a life-size image of the iPhone with 12 icons on the screen.

It was initially priced at retail for $499 (for 4 GB storage) and $599 (for 8 GB storage), according to the description on the auction site.   

Why It's Important: This isn't the first time an Apple vintage has attracted high bidding.

In June, a fully-functional Apple-1 computer autographed by Apple co-founder Steve Wozniak was put up for auction on eBay. It was expected to bring at least $485,000 at the auction.

Last year, an Apple II manual from 1980 signed by Jobs was sold for $787,484. 

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