An original iPhone, still in its packaging, is expected to sell for more than $50,000 (£41,000) at auction.
The iPhone, released in 2007, features a 3.5inch screen and 2-megapixel camera. If it achieves its estimate it will sell for more than 80 times the original $599 (£490) pricetag.
It was put up for auction by its American owner Karen Green, who was given it as a gift by friends.
Because the phone did not work on the network provider Ms Green used, she simply left it on a shelf, unused.
She realised she was sitting on a potential goldmine when she saw that an original, unopened iPhone had sold for $10,000 (£8,100).
An original iPhone, still in its packaging, is expected to sell for more than $50,000 (£41,000) at auction. Here Steve Jobs holds up the new iPhone that was introduced January 9, 2007
Ms Green says the proceeds of the auction will be used to help with the costs of running her cosmetic tattoo studio in New Jersey.
The auction, run by LCG Auctions, began last night and closes on February 19.
Ms Green said: ’I thought to myself, “Oh my God, I think I have the original”.
‘I called my son and I was like, “Go get the phone and make sure it’s not opened”.’
Green’s iPhone was appraised for just $5,000 (£4,100) when she appeared on a US daytime TV programme.
Last October a first generation iPhone was auctioned for nearly $40,000 (£33,000).
Ms Green plans to use the proceeds of the auction to help with the costs of running her new cosmetic tattoo studio, in New Jersey.
She added: ‘If I could hold off on the phone for like another 10 years, I probably would.
The iPhone, released in 2007, features a 3.5inch screen and 2-megapixel camera
‘The only reason why I am selling that phone is because I need to support this business.’
Bidding will start at $2,500 (£2,000) but the phone is estimated to fetch $50,000 or more, based on the sale price in the October auction and its widespread media coverage.
Ms Green said: ‘It took me almost a year to get it up and running, and when you don’t have an income for a year because you don’t have a place to work and you’re trying to get out on your own, your resources start to go.’
