What just happened? The auction for that USB-C iPhone closed yesterday and the winner made off with it using the tried-and-true method of bidding one dollar over the high bid in the last seconds. The auction closed at $86,001. Is a USB-C iPhone really worth that much?
A black iPhone X that went up for auction on November 1 has sold for $86,001 on eBay. As we reported last week, the phone was modified to support USB-C and had generated 170 bids in four days, with offers reaching $99,900 by November 4.
Six retractions brought the winning bid back down to $86,000, where it remained for several days. Then someone offered $86,001 in the last seconds of the auction, winning the phone.
The value of the iPhone X is dubious on its surface. The engineering student, Ken Pillonel, who did the modification, warned buyers not to restore, update, or erase the iPhone. So essentially, it's like buying someone else's phone and never being allowed to make it your own.
The only things that set it apart from a typical iPhone are that it has a USB-C port instead of a Lighting connection and that it is a one-of-a-kind item. Whoever is shelling out $86,000 for it likely wants to tear it apart to figure out how to make a knock-off device.
Apple's flagship phone has seen outrageous prices in the past. Usually, they are unique custom jobs like the iPhone 3G Kings Button ($2.5 million) or the iPhone 4s Elite Gold ($9.4 million). However, scalpers saw bids as high as $60,000 on eBay for standard iPhone X pre-orders in 2017.