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A first-generation iPhone is set to break records at auction this month by selling for over $50,000.
Karen Green, a cosmetic tattoo artist, was gifted an 8GB Apple iPhone as congratulations for starting a new job in 2007. The iPhone, boasting a 3.5-inch display and a 2-megapixel camera was the first of its kind retailing for $599 -- a long way from the best iPhone of today with its 6.7-inch display and 48-megapixel camera.
The original iPhone was released on AT&T in the United States and Green had phone lines with Verizon. Not wanting to lose her phone number and make things complicated, Green decided to leave the iPhone unused on a shelf in her house. Fast forward 16 years and that same unopened iPhone is worth over 80 times its retail price.
iPhone investments
LCG Auctions have listed the iPhone for sale with bidding ending on February 19 and bids starting at $2,500. The price of original iPhones has soared in recent years with prices going as high as $39,000 last year for a sealed first-generation iPhone.
When Green heard about the rise in prices of sealed original iPhones she couldn’t help but finally cash in. "I thought to myself, 'Oh my God, I think I have the original,'" she told Business Insider. "I called my son and I was like, 'Go get the phone and make sure it's not opened."
Green previously appeared on a day-time tv show called "Doctor & the Diva" in 2019 for a segment where viewers appraised the item in question. Green's iPhone was given an estimated value of $5,000.
Fast forward to 2023, and Green’s sealed iPhone is expected to sell for $50,000 or more due to the increase in media coverage and based on October’s record-breaking sale. Green is now ready to part ways with her immaculate collector’s item for a mind-boggling amount of money, but should she be holding off just that little while longer?
