First-generation iPhone sells for almost $280,000 at auction

A never-used first-generation iPhone has sold for a staggering $US190,372.80 ($279,315) at auction - nearly 400 times its original price.

The 4GB model was sold online by LCG Auctions on Sunday after 28 bids beginning at $US10,000 were made on the "extraordinary collectible".

LCG Auctions has explained that Apple's original iPhones have "proven to be a popular high-end collectible", with the original 4GB model considered a "Holy Grail" among iPhone collectors.

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"Its extreme scarcity is directly related to its limited production," the auction listing's description read.

"Debuting on June 29, 2007, alongside the 8GB model, the 4GB model was hampered by slow sales.

"Buyers chose to pay the $100 upcharge in exchange for double the storage space.

"The lagging sales resulted in Apple making the decision to discontinue the 4GB model on September 5^th, 2007, just over two months after it was first released."

The iPhone that sold was still in its factory wrapping.

It was originally sold for $US499 back in 2007.

An 8GB version was sold for $US599.

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An original factory sealed 2007 Apple iPhone was similarly sold by LCG Auctions on February 19 for $93,019, after 27 bids were made for it.

The latest model of an iPhone, the iPhone 14 Pro, retails for about $1749.

Items connected to Apple co-founder Steve Jobs and Apple's evolution have been sought after at auction in recent years.

Birkenstocks worn by Jobs in the mid-1970s were sold for a staggering $326,455 in November.

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