Unopened, mint condition iPhone from 2007 goes for an insane Rs 1.3 Cr at auction

The first-generation iPhone, introduced by Steve Jobs, revolutionized the smartphone industry with its touchscreen interface and integration of various features like music, internet browsing, and streaming. As a result, the original iPhone holds significant value, particularly when it is a factory-sealed and unopened device. These rare iPhones have been known to fetch high prices at auctions, and in a recent auction, the first-generation iPhone broke records as the most valuable iPhone sold. The auction, conducted by LCG Auction, featured a 4GB version of the first-generation iPhone that was sold for an astonishing $158,000 (around Rs 1.3 crore). Initially, the estimated selling price for the iPhone was expected to be between $50,000 and $100,000. However, due to intense demand, the bidding quickly escalated from $10,000 on June 30, ultimately reaching the final price of $158,644. This amount is 250 per cent higher than the previous record of $63,000 (around Rs 51.6 Lakh) set in February for another rare 4GB original iPhone. It is worth noting that the 4GB variant of the first-generation iPhone was originally launched in 2007 at a price of $499, approximately around Rs 40,000. With the recent auction, the value of this particular variant has increased by a staggering 318 times over the span of 16 years. The LCG Auction described the condition of the highly valuable 4GB sealed original iPhone, providing details about its pristine and unopened state:

Our offering is an exceedingly rare, factory-sealed, first-release 4GB model in exceptional condition. Virtually flawless along the surface and edges, the factory seal is clean with correct seam details and tightness. Labels on the reverse are correctly pristine beneath the seal. Outstanding color and gloss. Brand new, never activated. The phone’s provenance is pristine as the consignor was part of the original engineering team at Apple when the iPhone first launched. Collectors and investors would be hard pressed to find a superior example. Relevance and rarity comprise a winning formula for this red-hot collectible.

The auctioned iPhone holds even greater significance as it originated from a former Apple engineer who was directly involved in the development of the smartphone. This connection to an individual who worked on the device adds an extra layer of rarity and historical value. Furthermore, the 4GB variant of the first-generation iPhone is particularly unique because it was only manufactured for a short period before being overshadowed by the 8GB version in the market. However, in the auction, the 4GB variant fetched a higher value compared to its 8GB counterpart. This was evident when another factory-sealed original iPhone 1st-gen with an 8GB capacity was also sold at the same auction but at a lower price of $44,771 (around Rs 36 lakh). The unexpected pricing difference between the two variants demonstrates the demand and collector’s value associated with the more limited and rare 4GB model, despite the higher storage capacity of the 8GB version.