With the launch of every new model of the Apple iPhone, the price of the device also keeps going up. But despite rising prices, its popularity refuses to ebb. The craze is so high that an unopened first generation iPhone is set to rake in more than $50,000 at an auction, a whopping 80 times its original price.

First generation iPhone likely to be auctioned off for a whopping $50,000

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First generation iPhone likely to be auctioned off for a whopping $50,000