First generation 2007 iPhone sells for over $63K at auction

A factory-sealed original first generation 2007 iPhone was auctioned online on Sunday by auctioneer LCG Auctions at $63,000, which is 100 times its original price.

The original iPhone’s price when first released was $599, with a 3.5-inch screen, a 2-megapixel camera, 4 GB and 8GB storage options, internet access and iTunes. It had no app store, ran on a 2G network and was exclusive to AT&T network.

The phone was first bided online and started with $2,500 earlier this month, there were 27 bids on it, with ten buyers vying for the phone and the winner was an individual from the American Mark Montero, founder of LCG Auctions told CNN.

The phone has an interesting story too – it’s owner Karen Green received it as a gift from her friends over fifteen years ago. Based on reports, Green will use the funds from the auction towards opening a business venture.

The owner was a Verizon customer at the time while the phone only ran on AT&T’s network so it was quickly stored in a shelf and forgotten for over a decade.

The phone was appraised in 2019 with an estimated value of $5,000 and ultimately went on auction earlier this month.

iPhones made history since their first release in 2007 by Apple, former Apple boss, Steve Jobs had been set to make changes to the world’s communication with the iPhone’s then revolutionary features.