A 2007 iPhone sold at auction for $190.372, nearly 300 times its original asking price price sale.
The model belongs to the company's first generation of mobile phones, has 4GB of memory and its original purchase price was $599.
Its current value has increased at least 300 times due to its age, since it is considered a collector's item and is still in its factory packaging, in excellent condition.
The auction was conducted by LCG Auctions and during the process it was described device as a “popular collectible material high quality' and 'exceedingly rare'. The auction attracted a total of 28 bids, after the initial bid of $10.000.
The house has described the first-generation iPhone as a "holy grail" among collectors of the model, due to its extreme rarity.
And lest you think buyers were put off, LCG Auctions sold another first-generation iPhone for $63.356 in February, while another company, Wright Auctions, sold another in March for $40.320.
According to the Guardian, the auction site notes that the consignor was a member of the original teamof Apple engineers, when this particular model was released for the first time.
This year marks 16 years since then-Apple CEO Steve Jobs introduced the iPhone at Macworld in San Francisco, California on January 9, 2007, saying, "Today, Apple is going to reinvent the phone."
The iPhone quickly became the most successful product by Apple and was named invention of the year in 2007 by Time magazine. The 4GB model was discontinued shortly after launch due to lagging overall sales and the release of an 8GB model.
