The first generation of iPhones released in 2007 has been traded for a large amount of money.
The New York Post reported on the 11th that old electronic devices and rare items are being sold at more than expected prices in the U.S. collection market.
Adam Koprutsky, founder of the investment information platform Real World Investor, advised, “Look again at old books, game consoles, and mobile phones sleeping in drawers in the house,” adding, “It is likely to be an item that was common in the past but is difficult to obtain now.”
He cited Apple’s first iPhone as a prime example. Koprutsky said the first generation of iPhones, which sold for about $499 when they were released in 2007, are now up for more than $20,000 at auction if they are unopened.
“If this trend continues, the unopened model may exceed $50,000 by 2030,” he predicted.
There is also a real case. An unpacked iPhone 1st generation 4GB model was sold for about 190,000 dollars in 2023, and an 8GB version was sold for 63,560 dollars in February the same year.
The reason why the low-capacity 4GB model recorded a higher price was because of scarcity. When Steve Jobs unveiled his first iPhone in 2007, there were two versions, 4GB and 8GB, but when the 8GB model became popular, the 4GB product stopped being produced soon. As a result, it is now known as a “legendary rare model” among collectors.
According to market research firm Grand View Research, the U.S. collection industry is expected to reach $62 billion in 2024 and grow to about $83.7 billion by 2030.
“Star Wars figures or Pokemon cards that I used to play with when I was young may now be a big asset,” Koprutsky said, adding, “In particular, items that are unopened are recognized for the highest value, but products with good preservation are also well worth collecting.”
JENNIFER KIM
US ASIA JOURNAL
