iPhones tend to hold their value better than most phones, but this latest example is one for the history books. A factory-sealed first-generation Apple iPhone from 2007 sold at auction over the weekend for $63,356.

The device in question is an 8GB Apple iPhone and had an MSRP of $599 in June 2007. The auction ran from February 2 with a starting bid of $2,500, which topped $60,000 over the weekend.

The phone also has an interesting story – its owner, Karen Green, received it as a gift from her friends more than fifteen years ago. The owner was a Verizon customer at the time while the phone only ran on the AT&T network, so it was quickly shelved and forgotten for over a decade.

The phone was then valued at an estimated $5,000 in 2019 and finally went up for auction earlier this month. Based on reports, Karen Green will use the auction funds to open a business venture.

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