Rare Apple-1 Computer Hand-Built By Co-Founders Sells For $500,000 At Auction

A rare Apple-1 computer, hand-built by Apple Inc. AAPL co-founders Steve Wozniak and Steve Jobs, has sold for $500,000 at auction.

What Happened: California-based auction house John Moran Auctioneers said that the rare Hawaiian koa wood-cased Apple-1 fetched $500,000, while the estimate was between $400,000 and $600,000.

The computer is named the “Chaffey College Apple-1” after its first owner, an electronics professor at Chaffey College in California, who sold the device to his student in 1977. The Apple-1 has only had two owners.

The model is one of the only six computers that were built in a koa wood case, which makes it extremely rare.

See Also: Apple Co-Founder Steve Jobs' Handwritten Letter To Friend Expected To Fetch Up To $300,000 In Auction

Why It Matters: The Apple-1 was the first pre-assembled computer sold by Apple. It is one of the just 200 Apple-1 computers that were designed by Wozniak and tested by Jobs, his sister Patty Jobs and Daniel Kottke in Jobs’ home in Los Altos. The computers were sold at a retail price of $666.66.

It was reported in April that fractional ownership company Rally Rd offered investors and Apple fans the chance to own a stake in an original, fully functional 1976 Apple I computer.

The computer was evaluated by Apple-I expert Corey Cohen, and the original box is signed by Wozniak.

Price Action: Apple shares closed 1.9% lower in Wednesday’s regular trading session at $147.92, but rose 0.2% in the after-hours session to $148.21.

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Photo: Courtesy of Ed Uthman via Wikimedia