First-generation iPhone from 2007 sells for $190,372.80

July 17 (UPI) -- A rare, first-generation iPhone from 2007 was auctioned for $190,372.80, setting a new record for the "Holy Grail" of collectible iPhones.

LCG Auctions said Sunday's auction for the factory-sealed 4 gigabyte model iPhone ended with a high bid of more than 400 times the device's original price.

"The original 4GB model is considered a 'Holy Grail' amongst iPhone collectors," LGC Auctions wrote in its listing. "Its extreme scarcity is directly related to its limited production."

The iPhone was discontinued just two months after its launch due to its popularity being far surpassed by the 8 gigabyte model.

"The phone's provenance is pristine as the consignor was part of the original engineering team at Apple when the iPhone first launched," the listing stated. "Collectors and investors would be hard pressed to find a superior example."

LCG Auctions previously sold an 8GB iPhone from 2007 for $63,356.40 in February.