A first-generation iPhone has sold at auction for $190,373, almost 380 times its original price of $499 when the groundbreaking device went for sale in 2007.

LCG Auctions, which hosted Sunday’s sale, said the 4GB iPhone model was 20 times rarer than the 8GB model released at the same time for $599. That’s largely because the 4GB model was discontinued two months after launch given customer preference for the larger memory size.

“A new bar was set Sunday night,” said Mark Montero, the founder of LCG Auctions. “We are thrilled to be a part of this fantastic record breaking sale.”

It is the third original iPhone to sell for record prices at auction in the past year. An 8GB model sold for $63,356 in February and another 8GB model fetched $39,340 in October 2022. All were factory sealed in their original packaging.

Wesleyan University in Connecticut announced Wednesday that it has become the latest school to end its policy of giving preferential treatment in admissions to those whose families have historical ties to the school.

Wesleyan President Michael Roth sent a letter to the university community saying that a student’s “legacy status” has played a negligible role in admissions, but would now be eliminated entirely.

“We still value the ongoing relationships that come from multi-generational Wesleyan attendance, but there will be no ‘bump’ in the selection process,” he wrote. “As has been almost always the case for a long time, family members of alumni will be admitted on their own merits.”

Legacy policies have been called into question after last month’s Supreme Court ruling banning affirmative action and any consideration of race in college admissions.