Apple iPhone from 2007 sells for $190,000 at auction

A first-edition iPhone, unopened 4GB model sold for $190,372.80 at an auction, the BBC reports.

Not many of these were made at the time, leading the model to be considered the “Holy Grail” by iPhone collectors.

The lot, run by LCG Auctions, attracted 28 bids in total and sold at nearly 400 times its original price.

The final fee includes the administration costs on top of the hammer price paid to the auction house by the buyer, known as a “buyer’s premium.”

The buyer’s premium goes directly to the auction house and not to the seller.

The website described the model as 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”.

Originally retailing at $599, the lot was expected to fetch in the region of $50,000-$100,000 – but managed to smash all previous records.

First released in 2007 by the-then Apple CEO Steve Jobs, the tech giant made the decision to discontinue the 4GB model just two months after it was launched, due to lagging sales.

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