Welcome to the latest issue of Trading Updates/Cultural Items – FREE Version.
Today we’re digging into a special piece of cultural history – First run original iPhone 2G sealed in its box.
It’s one of the five assets scheduled for live trading this week on Otis and will go live Wednesday at 10:30 EST.
Table of Contents
What is the asset?
The OG iPhone originally dropped in late May 2021.
In summary, it’s an original first generation iPhone still sealed in its box. Based on quite a lot of Googling around and eBay stalking, these are pretty rare.
What is the current status of the asset?
The iPhone IPO’ed in May with a market cap of $13,100, and this was our recommendation at the time:We recommend this drop based on its asymmetric upside. Worst case scenario is it goes to zero, losing $13,100; best case is it’s worth $250k in a year or two.
It was trading with a market cap of $43,662 a couple of weeks ago when Otis halted trading to roll out real time trading.
Category Performance
Cultural items were up 46% in Q1 and down 14% in Q2.
Risk Profile
Valuation and target share price
- Target Share Price: $10 – $20
Valuation details:
Asset Growth
This has more than 4x since the IPO.
Growth Outlook and Future Catalysts
Longterm, this is a good one, I think, but we’re starting with a very high base now.