When Is An Old Smartphone Worth Six Figures?

Given that mobile phone providers often give customers incentives to upgrade their smartphones, one might think their now outdated, less powerful smartphones don't have much value. While that may be largely true for many phones, there seems to be some yearning for the device that put the smartphone on the map, the original Apple iPhone.

According to a CNN online report, a first-edition 2007 Apple iPhone sold for more than $190,000 at auction, far exceeding the estimate. The auctioneer LCG Auctions, expected the 4GB model to fetch in the region of $50,000-$100,000.

The report said the 4GB iPhone was described as being in “exceptional condition.” Adding to the smartphone's appeal was that the 4GB model was discontinued after only two months on the market due to “slow sales” after the updated 8GB smartphone was released with double the storage space for just $100 more, according to LCG Auctions in the report.

The iPhone that was auctioned off remains in its original packaging and has never been opened, the report said.

According to the CNN online report, earlier this year, a first-generation 2007 iPhone sold for more than $63,000, while another unopened first-generation iPhone sold for more than $39,000, also in a listing from LCG Auctions.

Related:History of Apple’s iPhone: Part 1, The Smartphone's Early Years

Apple’s iPhones tend to retail for higher prices than Android smart phones, but they still depreciate over time. But the eye-opening prices for original iPhones, in top condition, is indicative of the iconic status this consumer product has achieved.

Never mind that the specs and capabilities of the original iPhone pale compared to today’s low-end smartphones. Since its introduction in 2007, the iPhone has been a bellwether for the latest tech trends in processors, cameras, displays, and design. Consumers have long lined up at Apple stores after each new iPhone introduction.

The next version of the Apple's venerable smartphone, iPhone 15, is reportedly due out in September.

Spencer Chin is a Senior Editor for Design News covering the electronics beat. He has many years of experience covering developments in components, semiconductors, subsystems, power, and other facets of electronics from both a business/supply-chain and technology perspective. He can be reached at [email protected].