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An Apple first-generation iPhone sold for $190,372.80 (about R3.4m) at a US auction on Sunday.

The unopened 4GB first edition model, described as exceedingly rare, was bought for more than 300 times the $599 (£457) price it was marketed at when it was launched in San Francisco in 2007.

Karen Green was gifted the phone in 2007 and never opened it, but instead decided to sell it at auction. According to CNN, the founder of LCG Auctions, Mark Montero, said there were 10 potential buyers with the phone going to someone in the USA in the end for $63,000!

The smartphone was first launched in 2007 and now 16 years later an unopened edition of the model owned by tattoo artist Karen Green has been sold by LCG auction house for $63,356 after receiving 27 bids from a starting price of $2,500

A first-generation iPhone, still factory-sealed inside its box, has sold for more than $63,000, according to LCG Auctions which had expected the Apple relic to go for $50,000.

An unopened and never-used first-generation Apple iPhone has sold for over €59,000.The 8GB 2007 model was factory-sealed and still in its original plastic ...

A first generation iPhone has sold for more than $63,000 at auction 16 years on from its initial release.

The 8 GB phone, owned by tattoo artist Karen Green, had been expected to fetch around $50,000 - but the final figure reached almost 106 times the original asking price of $599.

From angry museum-goers to hapless auction house associates, art thieves, and enterprising college students.

The unsealed, first-generation iPhone from 2007 racked up nearly $40,000 at auction. It cost just $499 originally.