First-generation iPhone sells at auction for around 380 times its original price

Apple chief executive Steve Jobs holding an Apple iPhone at the MacWorld Conference in January 2007 in San Francisco (Paul Sakuma/AP)

A first-generation iPhone has sold at auction for $190,373 (€169,369), roughly 380 times its original price of $49 (€44) when the groundbreaking device went on sale in 2007.

LCG Auctions, which hosted the sale, said the 4GB iPhone model was 20 times rarer than the 8GB model released at the same time for $599 (€534).