First-generation Apple iPhone sells at auction in US for $190,000

Steve Jobs demonstrating the new iPhone at the Macworld conference in 2007, where he said Apple was about to ‘reinvent the phone’. Photograph: Paul Sakuma/AP

A 2007 Apple iPhone has been sold at auction for $190,372.80 (£145,416) – 300 times its original sale price.

The 4GB model , originally bought for $599, was still in its factory wrapping and was in exceptional condition, the auction listing said. The auctioneer LCG Auctions described the device as a “popular high-end collectible” and “exceedingly rare”.