Unopened first-gen iPod sells for $29,000 (P1.6 million)
The iPod has since been considered a remarkable example of technology in action, but do you know what else it can stand for? A reminder that nostalgia indeed sells.
On August 4, a first-generation Apple iPod sold for $29,000 (P1.6 million) through Rally, a platform that allows shared ownership using equity shares.
It was reportedly a Christmas gift to a boy in Plano, Texas, who forgot about its existence after receiving it from his parents.
“He wasn’t sure what he wanted to do with it, so he put it on a shelf, and then, inevitably, time passed,” Rally co-founder Rob Petrozzo said.
The archaic gadget only resurfaced years after its purchase in 2001, when the owner stumbled upon it while cleaning their house following his father's death.
The iPod's ownership was initially shared by 360 investors through a Limited Liability Company (LLC) until a private collector got the 5,000 shares in exchange for $29,000 (P1.6 million) to become its sole owner.
It originally retailed for $399 (P22,000) at the time of its release.
In July, a similar case happened with a factory-sealed 2007 4GB Apple iPhone, which was sold for $200,000 or over P10 million at the LCG Auctions in Louisiana.
Ironically, what made it so valuable was its 4GB storage capacity. Upon its official release in 2007, the phone was only available in 4GB and 8GB. The former was eventually phased out as a result of low sales. After several months, the storage models were upgraded to 8GB and 16GB.
Currently, an auction is being held at Boston's PR auction for a 1976-77 model of Apple 1 Computer with a customized keyboard, power supply, handmade case, and an authentic Steve Wozniak signature. Its price is expected to reach over $200,000 (P11 million) by the auction's closing date.
