The vast majority of old electronic products, even when traded in for newer models, come at a low price. However, Apple products, especially the iPhone, are a different story altogether. The auction price for the first-generation iPhone from Apple could reach over $100,000.
The latest model, iPhone 16, has been released and is currently available for pre-order. As millennials and Generation X individuals begin to reminisce about the technology of their youth, some tech enthusiasts are now willing to spend a significant amount of money to purchase early Apple products.
According to reports from Nexstar, Bobby Eaton from RR Auctions in New Hampshire stated, “The rarity, scarcity, and collectible value of these items have evoked nostalgia in the 40 to 50-year-old consumer group.”
Eaton mainly discussed the iPhone. In recent years, RR Auctions has facilitated the sale of multiple first-generation iPhones, with one selling for over $147,000 in March of this year. Last year, another rare iPhone was auctioned at LCG Auctions in Louisiana for a record-breaking $190,373.
However, collectors are not just interested in any old iPhones. The highest-priced phones are those still sealed in their original packaging and in immaculate condition. Currently, only certain models are coveted by collectors, such as the 4GB and 8GB first-generation iPhones released in 2007, as well as the later 8GB model with the iTunes logo on the box cover.
Among the three mentioned iPhones, the most valuable is the 4GB model, which was discontinued just two months after its release due to Apple lowering the price of the 8GB version. The models that fetched high prices mentioned earlier were all 4GB phones. However, the 8GB models also sell for a hefty sum, especially the early versions where the product photo on the box did not yet feature the iTunes application.
Eaton mentioned that unsealed first-generation iPhones could still be worth thousands of dollars, but they must be in pristine condition. He stated that if they show signs of use or damage, they are essentially “worthless” to collectors.
Apart from iPhones, the first-generation iPod and iPad also hold significant value for collectors, provided they are in good condition and preferably sealed. Models beyond the first generation do not currently hold as much collectible value.
What about owning phones from other brands like Samsung or Android? Sorry, Eaton mentioned that the value of early models of these phones “pales in comparison” to what Apple enthusiasts are willing to pay for an iPhone.
“The only thing we’ve sold that can even be compared to iPhones is… early Motorola flip phones still sealed in their boxes,” Eaton said. “They sold for $250.”
If you happen to have a valuable sealed iPhone, first check the serial number and IMEI number on the box to ensure it has not been activated. Eaton explained that scammers may wrap secondhand iPhones in shrink wrap and pass them off as factory-sealed. You can try having a grading service evaluate it.
Eaton also mentioned submitting photos directly to antique technology auction houses to get their opinions.
In 2022, a private Apple-1 prototype once owned by Steve Jobs was auctioned off for nearly $700,000. The Apple-1 was the first prototype product introduced by Apple, and there are very few in existence. Only 200 Apple-1 units were produced, initially priced at just $666.