Apple Inc.'s AAPL first iPhone from 2007 was auctioned on Sunday for more than 60 times its original price. The unused 8GB iPhone was priced $599 when it first hit the market.
What Happened: An unopened first-generation original iPhone from 2007 has been auctioned off for $39,339. The flagship product was part of the "2022 Fall Premier Auction" by LCG Auctions that ran from Sept. 30 to Oct. 16.
The device was introduced by Apple co-founder Steve Jobs in 2007. During the launch, Jobs famously referred to the iPhone as three products in one — "a widescreen iPod with touch controls, a revolutionary mobile phone, and a breakthrough internet communications device."
See Also: How to Buy Apple (AAPL) Stock Right Now
The first iPhone included an innovative touchscreen, a two-megapixel camera, and a web browser. Its packaging box featured a life-size image of the iPhone with 12 icons on the screen.
It was initially priced at retail for $499 (for 4 GB storage) and $599 (for 8 GB storage), according to the description on the auction site.
Why It's Important: This isn't the first time an Apple vintage has attracted high bidding.
In June, a fully-functional Apple-1 computer autographed by Apple co-founder Steve Wozniak was put up for auction on eBay. It was expected to bring at least $485,000 at the auction.
Last year, an Apple II manual from 1980 signed by Jobs was sold for $787,484.
Read Next: Apple's Latest iPhone Ad Beefs Up Its Privacy Savior Image...Yet Again
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