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The Rising Value of the First Generation Apple iPhone: From $500 to $160,000

Jakarta

At the Macworld 2007 event, Steve Jobs — then CEO Apple — release Apple iPhone without any additional numbers behind it, because of course it is the first generation iPhone.

At that time the price for the cheapest variant that had 4GB of storage was USD 500, while the 8GB storage variant cost USD 600 (both 2-year contracts with cellular operators). But now, the oldest iPhone is selling at multiple prices, reaching USD 160 thousand or around Rp. 2.8 billion.

The 4GB version of the iPhone, which was still sealed in the box, was auctioned off at LCG Auction with an opening price of USD 10,000 on June 30. The day before the auction closed, Saturday (15/7), the price had just reached USD 42 thousand.

Towards the close, the bids that appeared went wild, until they finally closed at USD 190,372. Interestingly, there have been several auctions for the first version of the iPhone. Everything does reach a price that is many times the original price.

However, the one that sells at the highest price is the cheapest variant with 4GB of storage. Previously, the 8GB version of the iPhone had sold for far below USD 160 thousand.

For example, last February, the final price was USD 63 thousand. Then the day before the auction for the 4GB version of the iPhone, an 8GB iPhone was sold for only USD 39,339, quoted detikINET from GSM Arena, Tuesday (18/7/2023).

In the product description, LCG Auctions writes that the iPhone it sells is considered a ‘Holy Grail’ or holy grail among iPhone collectors. Mainly because of the limited number of production.

“First sold on June 29, 2007 with the 8GB version, the 4GB version was hampered by slow sales. Buyers chose to pay USD 100 more expensive for larger storage capacity,” wrote LCG Auctions.

Apple then decided to stop production of the 4GB model on September 5, 2007, two months after it was first released.

Watch the video “Be careful! It’s dangerous to buy a refurbished iPhone in Indonesia

(asj/asj)

2023-07-18 03:30:19
#edition #iPhone #sells #IDR #billion

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