First-generation iPhone sells for nearly £50,000 at auction

The iPhone sold for nearly 100 times its original price. Credit: PA

A first-generation 2007 iPhone has sold for more than $63,000 (£50,000) at an online auction in America.

Selling for more than 100 times its original cost, the "first-edition" device had never been opened and was sold on by auctioneer LCG Auctions.

The original iPhone cost £457 back in 2007 and offered early buyers a new way to use their phone, with the use of a 3.5-inch touch screen, internet capabilities and a 2-megapixel camera.

At the time, the device had no app store and ran on a 2G network.

The phone was originally appraised at $5,000 on daytime TV back in 2019. Credit: Doctor & The Diva/YouTube

Bids for the phone began online earlier this month at $2,500 (£2,064). In total there were 27 bids on the phone, according to the auctioneer's website.

Mark Montero, founder of LCG Auctions, told CNN that 10 buyers vied for the iPhone and the winner was “an individual from the US”.

Tattoo artist Karen Green had been gifted the phone and never broke the seal. While appearing on US daytime television programme "The Doctor & The Diva" in 2019, an appraiser valued the phone at $5,000.

Another unopened first-generation iPhone sold for over $39,000 in a listing also by LCG Auctions in October last year.

When released, the iPhone changed the way countless people around the world used their phones for communication, taking photos or surfing the web. It also brought the end to may other products such as camcorders, MP3 players and flip phones.

Speaking at Apple’s annual Macworld expo in 2007, then-Apple boss Steve Jobs opened his presentation with: “We’re going to make some history together today.”

Apple's latest offering, the iPhone 14, was released last year. Credit: AP

Jobs called the new smartphone a “revolutionary mobile phone” that will feature an iPod, phone and what he called an “Internet communicator”.

“It’s bad out there today,” said Jobs of mobile web browsers. “It’s a real revolution to bring real web browsing to a phone.”

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