Business Insider reported that someone paid $39,339.60 for an iPhone on Sunday. The seller listed the first-generation handset in its factory-sealed box with LCG Auctions on September 30.

The iPhone SE (1st generation) is now being sold for over 200,000 won (US$140) on second-hand marketplaces. Even the iPhone 6s, a model released a decade ago, is fetching around 100,000 won.

A factory-sealed first-generation iPhone from 2007 sold for $63,356.40 on Sunday at LCG Auctions, more than 100 times its original sales price of $599. Even when the original price is adjusted for ...