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One bidder is now the owner of a piece of tech history, for a price. They paid nearly $40,000 for a factory-sealed model of the first-edition iPhone. The eight gigabyte smartphone retailed for $599 in 2007, but quickly ballooned in price on the auction block among avid collectors. The phone was advertised as being in "exceptional condition." For context, the current iPhone 14 has 128 gigabytes of storage.