Record-Breaking Sale: First Generation Apple iPod Sells for $29,000

A remarkable event unfolded as a first-generation Apple iPod from 2001 achieved a groundbreaking sale price of $29,000 through the Rally Alternative Asset Investment platform on August 4th.

This iPod had spent years forgotten on a shelf in Piano, Texas, remaining in its original Apple sleeve and store blue bag since its gifting during Christmas of 2001. The device was initially given to a teenager by their parents and had been purchased by the couple for $399 plus tax at the newly opened Apple store in Willowbrook Mall.

Rob Petrozzo, co-founder of the investment platform, shared that the recipient, now an adult, initially “didn’t know what to do with it” upon receiving the gift, and subsequently paid little attention to it over time. The iPod was placed on a shelf and eventually faded into the background of life’s changes.

Rediscovery of the iPod happened when the original owner was cleaning their childhood home following their father’s passing. This prompted the device’s appearance on the market once more in 2021, with the investment platform offering ownership of the product in the form of 5,000 shares priced at $5 per share, distributed among 360 investors.

A private investor recently proposed a buyout offer of $29,000, marking a 16% increase over the past year and a half. The shareholders voted on whether to accept the offer or not, with a significant 61.98% voting in favor. Without adjusting for inflation, the original price of $399 has surged 73 times over the course of 21 years.

This event highlights a growing fascination with nostalgic Apple products. Just a few weeks earlier, a factory-sealed 2007 4GB Apple iPhone fetched a remarkable $200,000 at LCG auctions in Louisiana. The original iPhone offered only two storage options, and due to the 4GB model’s initial unpopularity compared to the 8GB variant, it was discontinued after a short period, adding to its rarity.

In another instance, a fully operational 1976-77 Apple-1 Computer featuring a custom-built keyboard, power supply, handmade case, and an original Steve Wozniak signature is anticipated to secure over $200,000 at Boston’s PR auction, which runs until August 24th.