The phone, which has a 2 megapixel camera and 8GB of storage, was given to Karen Green as a gift when she got a new job, but she already had a proper phone and the iPhone did not work with her network sho she stuck it on a shelf and forgot all about it.

It was “wrapped in a pair of felt pajamas” for years which is probably the best use we can think of for an iPhone.

In October, Green heard that a first generation iPhone from 2007 had sold for $39,339.60. 

Seeing the pajama wrapped toy as something useful she contacted the auction house. 

LCG Auctions founder, Mark Montero said that after the first auction his company was swamped with people trying to flog their old and completely useless iPhones. “But Karen had a really unique piece with a great story behind it.”

LCG Auctions put a price estimate of “$50,000 and up” on the phone. The auction opens on Thursday and will end on 19 February.

The phone's original value was $599 which was formidably overpriced for its day. This is not the first time that Green has tried to off load the iPhone. In 2019, Green appeared on the TV show Doctor & the Diva, where the antiques appraiser Lori Verderame valued her iPhone at $5,000.

Green wants the iPhone now to support her fledgling cosmetic tattoo studio in New Jersey. Which will make it the first iPhone to actually do something useful. We are not sure what happens if the box is opened and the battery turns out to be melted, or how they worked out that it was in good condition.