First-gen iPhone sells at auction for $190K – about 380 times its original price

UNDATED (AP)- A first-generation iPhone has sold at auction for $190,373, roughly 380 times its original price of $499 when it went for sale in 2007. LCG Auctions, which hosted Sunday’s (July 16, 2023) sale, said the 4GB iPhone model was 20 times rarer than the 8GB model released at the same time for $599, largely because the 4GB model was discontinued two months after launch. It is the third original iPhone to sell for record prices at auction in the past year, following an 8GB model that sold for $63,356 in February and another 8GB model that fetched $39,340 in October 2022. All were factory sealed in their original packaging.