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.
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.