25th August 2007

An Unlocked Apple iPhone: Worth $25M?

George Hotz - unlocked apple iphoneYes that’s Million as in $25 Million smackeroos.

Okay to understand it helps to read this item from the Globe and Mail online column, but basically the story goes like this:

Young hotshot tech-genius unlocks an Apple iPhone by performing a 2-hour, fairly complex and highly technical hardware and software modification, and is now using it on T-Mobile, instead of AT&T. Cool.

AND he was smart enough to buy TWO iPhones, unlock them both, and sell the second one on eBay. Even cooler.

But – according to the story – the bidding was (as of posting date) at somewhere north of $25 million dollars for the unlocked Apple iPhone.

Now to be fair, I’m preeety sure that some of the bids that are in excess of, oh lets say a few thousand dollars, simply MUST be fake bids, but come on people! Let’s do the math here. You can cancel your T-Mobile contract, pay their exhorbitant cancellation fee, buy a new iPhone, and sign up for AT&T’s Top of the Line contract and all for WAAAYY less than $25 million dollars???? To top it off, this guy is very kindly and generously giving away his instructions on how to do it yourself for FREE people – did you get that? FREE – you could buy several phones and try unlocking your own for WAAAYY less than $25 million dollars!

Okay so even taking into account the novelty factor that spurs collectors to get into a crazed bidding frenzy to “be the first to own an unlocked Apple iPhone” – is it really worth $25 million dollars?

What am I missing here?

Share with others:
Please Rate this Post:

Leave a Reply

Add your own comment! Your opinion is as valid as anyone elses, so come on... let me know what you think.

**PLEASE NOTE:  Due to the high amount of comment spam I receive I am currently moderating ALL comments, so please be patient, and I WILL respond.  in addition I use Akismet and other spam-comment blockers.  If your comment does not eventually show up it may be that Akismet has determined that it is spam due to your IP address, your links, or the words you use.   If you're not a spammer, drop me a note via my Contact Form and I'll respond personally.

Your email address will never be displayed. Please use a name/pseudonym so that it is easier to distinguish between different anonymous comments. Thanks for commenting!