Apple 1 Computer Sells For $210,700 164
digitaldc writes "An Apple computer purchased more than 30 years ago has sold for 425 times its original selling price. From the article: 'An Apple-1, one of only about 200 such machines built in Apple co-founder Steve Jobs' parents' garage, sold at Christie's auction house in London today for 133,250 pounds (about $210,700). The Apple-1, which didn't include a casing, power supply, keyboard, or monitor, originally retailed for $666.66 in 1976. Apple discontinued the model in 1977.'"
Big News! (Score:2, Informative)
Re:So what? (Score:3, Informative)
This troll made a lot more sense 7 or 8 years ago when it wasn't much quicker and easier to install and maintain Linux than any other general use system.
Even if you factor out install time (since most people get their Windows and Mac systems preloaded), the time you spend maintaining your system very quickly tilts the balance back in favor of Linux.
Re:And if you invested the money in Apple itself? (Score:4, Informative)
If a VC had invested $666 in Apple in 1976, how many Apple I's would that be worth today?
About $76,000, for an IRR of 17.1%. APPL shares were worth $2.75 (split adjusted) at their 1980 IPO, and are going for $315 or so today.
In contrast, the Apple I has gone from $666 to $210,000 over 36 years, which is an IRR of 18.4%.
Re:I heard this on the news (Score:3, Informative)
Please don't try to do math that you don't understand.
Re:I heard this on the news (Score:3, Informative)
Well if you put the money in the bank at 3% interest rate you'd see about 1.03^36 = 290% return, but it's not how we normally talk about it. Return on investment (ROI) is implicitly annual, 666 * 1.18^36 = 210,000 so nominally 18%. You are correct that it should be corrected for inflation though, 2562 * 1.13^36 = 210,000 so a real ROI of 13%. Which is still impressive but not that absurdly high.
Re:I heard this on the news (Score:3, Informative)
Well, an 18% return sustained for 36 years is crazy huge, precisely because it turns $666 into $210k. An 18% return on a single stock for year is very good. An 18% return on a portfolio for a whole year is really good. But a sustained 18% return for 36 years in a row? I doubt Bill G.'s own stock in Microsoft achieved that.