At auction, an Apple iPhone from 2007 fetches $190,000 USD.

However, there are few exceptions, such as a first edition, unopened 4GB device that sold for $190,372.80 (£145,416) at an auction in the United States.

Because so few of these were produced at the time, the model became known as the “Holy Grail” of iPhone collectors.

LCG Auctions’ offering drew 28 bids in all and sold for roughly 400 times its original price.

The final fee comprises administration costs in addition to the hammer price paid by the buyer to the auction house, known as a “buyer’s premium.”

The buyer’s premium is paid to the auction house rather than the vendor.

LCG Auctions called it a “popular high-end” and “red-hot collectible,” adding that two other factory-sealed, first-edition iPhones had sold for record prices in the previous year.

The item was characterized as a “extremely rare, factory sealed, first-release 4GB model in exceptional condition” on the website. The factory seal is very faultless around the surface and edges, with proper seam details and tightness.”

The lot was originally priced at $599 (£457) and was expected to garner $50,000-$100,000 – yet it smashed all prior records.

After being debuted in 2007 by then-Apple CEO Steve Jobs, the tech giant decided to discontinue the 4GB model just two months later due to poor sales.

Most customers chose the 8GB model, which was released at the same time and provided users with double the storage space for only $100 more.

Every few months, unusual Apple mementos or relics from Mr Jobs’ life and career are auctioned off.

They include a poem he penned in a high school yearbook for a classmate, images of him in college, and a business card from 1978.

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