Unopened, First-generation iPhones Could Sell At Auction For $50,000

An original, unopened iPhone from 2007 is going up for auction, and the starting bid is $50,000.

Karen Green got the phone as a gift from her pals when she got a new job. In an interview on the daytime talk show Doctor & The Diva in 2019, Green explained that she had never even turned on the iPhone because she had just purchased a new phone and assumed the iPhone would never become obsolete.

This phone, which initially retailed for $599 in 2007, was appraised on the show and found to be potentially worth $5,000. LCG Auctions, which has sold its fair share of vintage iPhones in the past, is now selling the device at auction for a possible $50,000.

Mark Montero, the founder of LCG Auctions, told Business Insider, “We got calls from everybody, but 99% of them didn’t have the same thing.” But Karen had a special item with a fascinating history. It was surprising given how many duds we had received.

Bidding will begin at $2,500 for this iPhone, which is a first-generation model and features 8GB of storage and a built-in camera. After Green’s appearance on Doctor & The Diva, she reportedly kept the phone in her possession until October of 2022, when she learned that another unopened, first-generation iPhone was being offered for about $40,000. Green might have been more patient if she hadn’t been so busy starting a new company.

Green told Business Insider, “If I could hold off on the phone for like another 10 years, I probably would.” There is no other motive for me to sell the phone other than to keep the doors open here.

From the original, we’ve come a long way. Green’s auction of an iPhone takes us back to the early days of the smartphone revolution. The auction for Green’s iPhone is set to begin at 2 p.m. at 8 PM EST, with a minimum opening bid of $2,500.

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