The lot was a particularly rare model with 4GB of storage, which Apple discontinued shortly after launch in favour of the 8GB model due to low sales. “Presented is the preeminent example of an original Apple iPhone: the elusive 4GB model released on June 29th, 2007,” LCG Auctions’ listing reads. “LCG Auctions is incredibly thrilled to bring this extraordinary collectable to auction for the very first time.” Bidding opened at $10,000 (R180,882) and was estimated to reach between $50,000 (R904,408) and $100,000 (R1,808,815).

LCG Auctions said the 4GB model is considered the “Holy Grail” among iPhone collectors. “Its extreme scarcity is directly related to its limited production. Debuting on June 29th, 2007, alongside the 8GB model, the 4GB model was hampered by slow sales,” its listing reads. The 4GB model was so unpopular at launch that many buyers opted to pay $100 to upgrade to the 8GB version. “The lagging sales resulted in Apple making the decision to discontinue the 4GB model on September 5th, 2007, just over two months after it was first released,” LCG Auctions said.

In February 2023, LCG Auctions listed a sealed original 8GB iPhone, which sold for $63,356.40 (R1.16 million at the time). It held the previous record for the highest price for such a device. According to the listing, the device had never been used as the owner, who received it as a gift, could only use it on AT&T’s network and therefore remained sealed in its original packaging. Well-known tech YouTuber MKBHD later revealed that he was the buyer.