Apple's first-gen iPhone which was launched in 2007, is currently up for bid in an auction on Thursday, Feb. 3. The old handset, which remains unopened, has an estimated value of over $50,000, according to the report.
Original 2007 Apple iPhone at $50,000
The owner of the 2007 iPhone just received it as a gift, but she had no idea its price would increase in the future.
Cosmetic tattoo artist Karen Green was surprised to know that a forgotten iPhone model could be sold for over 80 times its original price.
According to Business Insider, when Green got promoted to manager in her job in 2007, she received this first-released smartphone as a present from her friends.
At that time, the said model was very cheap at just $599. This variation has either 4 GB or 8 GB of memory.
For many years, Green noticed a growing problem with her smartphone. The iPhone line was only limited to AT&T, so there's no choice if you want to switch to another carrier.
Instead of paying huge termination charges, she decided to keep the phone for several years. She did not open nor used it ever since. For extra protection, she wrapped it in a pair of feet pajamas.
After over 15 years since she got the phone, Green decided to place it in an auction hoping someone might buy it. Fortunately, LCG picked it up for bid starting Feb. 3 until Feb. 19.
According to the auction house, the 2007 first-gen iPhone can net at least $50,000. That's more than eight times its price 16 years ago.
Related Article: Apple's First-Gen iPhone Sealed in Plastic Fetches for $35,000 at Auction! iPod for $25,000?
How Green Came Up with the Idea
The Guardian reports that Green learned that someone sold a 2007 iPhone model similar to her's for nearly $40,000 back in October 2022.
Because of this, she visualized if she could sell it at the same price in auction houses or any third-party sellers.
"I thought to myself, 'Oh my God, I think I have the original. I called my son and I was like, 'Go get the phone and make sure it's not opened," Green said.
According to her, she needs to sell the unopened iPhone model in order to start her new business in New Jersey. To support Tattician, her own tattoo studio, she badly wants to gain money for it.
Mark Montero, the founder of LCG Auctions, shared that 99% of their callers are not selling the same iPhone as Karen. He added that he was hooked on the story behind the item.
For those interested in a factory-sealed 2007 iPhone, visit this page for more details. The starting bid for this phone is $2,500, but it is expected to exceed $50,000 for the record.
Karen wishes to keep the phone for quite a long time--maybe for another decade. However, she needs financial support for her business, and that's the only reason why she decided to sell it.
Read Also: Waterproof iPhone X with Working USB-C Port Auctioned for $86,001
