A 2007 Apple iPhone was recently sold at an auction for an astonishing $190,372.80 (£145,416), which is an incredible 300 times its original sale price. The 4GB model, originally purchased for $599, was still in its original factory wrapping and in exceptional condition, as mentioned in the auction listing. The auctioneer, LCG Auctions, referred to the device as a "popular high-end collectible" and stated that it is "exceedingly rare."

The auction drew a lot of attention, with a total of 28 bids received, starting with an initial bid of $10,000. Interestingly, LCG Auctions had previously sold another first-generation iPhone for $63,356 in February, while another firm, Wright Auctions, managed to sell one for $40,320 in March.

The phone was described by LCG as a "holy grail" among iPhone collectors because it is extremely rare to find a first-generation iPhone in such pristine condition without any display damage or broken buttons.

The consignor who put the phone up for auction was actually part of the original engineering team at Apple when the iPhone was first launched.

It's been 16 years since the iPhone was introduced by Apple's then chief executive, Steve Jobs, at Macworld in San Francisco on January 9, 2007. He famously said, "Today, Apple is going to reinvent the phone."

 The iPhone quickly became Apple's most successful product and was even named the 2007 invention of the year by Time magazine.