A Sealed 2007 First Generation Apple iPhone Just Sold For P10 Million at Auction

For those still taking care of their sealed first generation Apple iPhone, you'll be surprised to know how much one costs right now. There are some collectors who are ready to shell out big bucks to own of these first releases.

In a recent auction by LCG Auctions, one such iPhone was sold for $190,372.78 (approximately P10,358,278.15). The sale set a new record for the holy grail of collectible iPhones. We wonder, though, who would pay that much money for an old gadget?

Collectors have a different mentality, of course. The rarer the item, the more they want it—especially if its within their budget.

The first generation iPhone that was auctioned by released by Apple in 2007. It has a capacity of 4GB. The hype when Steve Jobs first unveiled the invention 16 years ago was crazy, to say the least. Everywhere around the world, people lined up just to get their hands on the gadget.

Back then, it was priced at $599. Which makes the auctioned iPhone 37 times more expensive than the original price. There were two options—4GB or 8GB. But, users bought the 8GB variant for more data, image, video, and application space. Several 4GB models were taken out of the market, which is why is considered a "rarer species" out of all the iPhones.

The lucky seller of the first generation iPhone was a member of Apple's engineering team that first launched the unit.

From: PEP.ph