Less is more
Generally, the higher the specification, the higher the price. And iPhones are no exception. When it was first introduced in 2007, the 8GB version was $100 more than the 4GB one. Oh, how times change.
So many people splashed the cash, and bought twice as much storage, that the lower capacity model was discontinued after only two months. Now, less than half a year after an 8GB model sold at auction for a little over $63k, a 4GB model has sold for three times that amount.
And, yes, it's sealed in its box; described by the auction house—LCG Auctions, again—as exceedingly rare, factory sealed, first-release 4GB model in exceptional condition. Virtually flawless along the surface and edges, the factory seal is clean with correct seam details and tightness
. So I guess the buyer has to take it on trust that there really is a phone in there.