This iPhone of 50 thousand in a box will be sold for more than 5 crores, why is it so expensive?

This iPhone of 50 thousand in a box will be sold for more than 5 crores, why is it so expensive?

IPhone 2007 Model : The world’s first iPhone was introduced in 2007. Now iPhone is popular all over the world. Every year many people wait for the new series of iPhone, which costs more than the first series. When the new series comes, the price of the old iPhone decreases, but how would you feel if we say that the price of a 2007 iPhone model has been fixed at Rs 50,000,00. This is the first model of the iPhone.  The phone belongs to cosmetic tattoo artist Karen Green. The artist had received this phone as a gift 16 years ago.

According to media reports, tattoo artist Karen Green’s friends gifted her the First Gen iPhone in 2007. The phone has 3.5 inch screen, 2 megapixel camera and Safari web browser. The asking price in the auction is Rs 50,000,00, which is 80% more than its actual price.

Why didn’t Green open the iPhone?
When Green’s friends gifted her this phone, she was very excited to use this iPhone. He didn’t open it though, because he already had three phone lines with Verizon, and at the time iPhones could only use AT&T. To avoid termination fees for phone lines and the risk of losing his phone number, Green decided to hold off on the iPhone for years. 

Price in auction
After some time Green had to start his own cosmetic tattoo studio business, for which he needed money. Because of this, to get a good price for her iPhone, she went to sell it. Green told Business Insider while selling the phone, "If I could keep the phone with me for the next 10 years, I would definitely do so." Now LCG Auctions in the US has decided to auction Green’s iPhone. The bid on February 2 was at $2,500 (around 2 lakh) and is expected to fetch $50,000 (5 crore) or more at the auction on February 19.

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