First-gen iPhone sells at public sale for $190K — about 380 instances its authentic value

A primary-generation iPhone has bought at public sale for $190,373 , nearly 380 instances its authentic value of $499 when the groundbreaking system went on the market in 2007.

LCG Auctions, which hosted Sunday’s sale, stated the 4GB iPhone mannequin was 20 instances rarer than the 8GB mannequin launched on the similar time for $599. That is largely as a result of the 4GB mannequin was discontinued two months after launch given buyer desire for the bigger reminiscence measurement.