Unopened first-generation iPhone set to sell for $50,000 at US auction

A first generation, unopened 2007 iPhone is expected to sell for more than $50,000 when it goes to auction on Thursday.

The phone, which has a 2 megapixel camera and 8GB of storage, was given to Karen Green as a gift when she got a new job, Business Insider reported.

But Green already had a new phone, and moreover, the iPhone was not compatible with her existing cellular network.

In October, Green heard that a first generation iPhone from 2007 had sold for $39,339.60.

The cosmetic tattoo artist contacted LCG Auctions, the auction house that handled the sale and had found itself inundated by owners of old iPhones.

The first generation iPhone was available with 4Gb of memory for $499 or 8Gb for $599.

In the decade following its launch, Apple sold 1.2bn iPhones, dominating the smartphone market.

In 2019, Green appeared on the TV show Doctor & the Diva, where the antiques appraiser Lori Verderame valued her iPhone at $5,000.

The price has risen since then. Green said she decided to sell the iPhone now to support her fledgling cosmetic tattoo studio in New Jersey.