A first generation 2001 Apple iPod has just been sold for a record breaking $29,000 via the Rally Alternative Asset Investment platform last week (August 4).
The iPod had been sitting forgotten on a shelf in Piano, Texas where it had remained in the original Apple sleeve and store blue bag since Christmas of 2001, after being gifted by a teenager from his parents. It was originally purchased by the couple for $399 plus tax at Willowbrook Mall’s then-newly opened Apple store .
According to Rob Petrozzo, a co-founder of the investment platform, the now adult said that he “didn’t know what to do with it” when he first got the gift and paid little attention to it in the days after, “So he put it on a shelf and then, inevitably time passes.”
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The original owner only rediscovered the iPod after his father passed and he was doing a deep clean of his childhood home.
The now discontinued product first re-appeared on the market in 2021, where the investment platform opened up ownership of the product, breaking it up into 5000 shares at $5 a share split between 360 investors.
The buyout offer of $29,000 (a 16% increase over the last year and a half) was put forward by a private investor last week, with shareholders voting on whether to accept the buyout offer or not. According to 9to5Mac, 61.98% of shareholders voted in favour of accepting the offer. Without counting for inflation, the iPod’s original $399 price has seen a 73 fold increase in the last 21 years.
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It seems there has been a growing interest in nostalgic apple products as of late. A few weeks ago on July 17, an original factory sealed 2007 4GB Apple iPhone sold for a record $200,000 at the LCG auctions in Louisiana. The original iPhone came with only two storage options; due to the initial unpopularity of the 4GB model in comparison to its 8GB counterpart, it was discontinued after only a few months to offer a 16GB model, a factor largely contributing to its rarity.
Similarly, at Boston’s PR auction running until August 24th, a fully working 1976-77 Apple-1 Computer with a custom built in keyboard, power supply, handmade case and an original Steve Wozniak signature, is expected to fetch over $200,000 by the auctions closing date.
Tiffanie Ibe is Mixmag’s Digital Intern, follow her on Instagram
Written by: Tim Hopkins