This unopened, first generation iPhone from 2007 was auctioned for over Rs 52 lakh

The unopened iPhone from 2007. (Image: auction.lcgauctions.com)

An unopened, first-generation iPhone has fetched $63,356.40 (Rs 52.47 lakh) at an auction, more than 105 times than what it cost back in 2007.

The owner of the phone is American Karen Green, who didn’t want to sell the phone and wanted to hold on to it for the next ten years but has a business that needs the money. The phone was sold by LCG Auctions and closed on February 19 fetching 27 bids. The winning bid was $63,356.40 for a base price of $2,500.

“One of the most important and ubiquitous inventions of our lifetime, the iPhone was first introduced by Steve Jobs on January 9, 2007 at MacWorld San Francisco. Just over five months later it was released at retail for $499/$599 on June 29th. The original iPhone included 4/8 GB of storage, an innovative touchscreen, a 2-megapixel camera, and a web browser. The iconic box featured a life-size image of the iPhone with 12 icons on the screen. It quickly became Apple’s most successful product, forever changed the smartphone industry, and was named the Time Magazine Invention of the Year in 2007,” the auction site described the first iPhone.

The backstory of the unopened phone is very unique. Green’s friends gifted her the phone back in 2007 after she secured a management job. But she had three other phone lines and decided to keep the wrapped box safely.

She did consider selling the phone before when she heard how much these items may fetch. Her phone was given an estimate of $5,000 on the daytime TV show "Doctor & the Diva" in 2019.

She decided to hold on to the phone a little longer. Last year in October, Green was starting her business, a cosmetic tattoo studio called Tattician in New Jersey. She needed the money and contacted the auction house who were very pleased to know that the phone matched what they were looking for.

“Almost 16 years old, the phone presents magnificently, showcasing sharp corners front and back, rich color, and “case fresh” features. The labels on the reverse are pristine beneath the seal and shelf wear is minimal. This is the first original iPhone in acceptable condition to hit the auction block since the record-breaking sale in October. A truly remarkable piece with great appeal to both collectors and investors alike,” LCG Auctions wrote describing Green’s phone.