Rare Apple 1 To Go Under Hammer: Could Fetch $500,000

Back in 1976, two friends - Steve Jobs and Steve Wozniak worked on an innovative idea. Later Steve Jobs created one of the largest tech companies of the world. It is because of Jobs, Apple managed to eclipse Microsoft.

Apple 1, the first generation computer, is now on sale. There were about 200 pieces were manufactured. Now most of them have been disappeared. So it's a rear piece in terms of value. Next week auction house Christie's would start bidding Apple 1. The bidding starts at $ $300,000. Analysts' expect this rare piece could fetch $500,000 or even more. Last month another Apple 1 was auctioned for $671,400.

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This is the seed from which the entire orchard grew, and without this, there would be no Apple," said Stephen A. Edwards, professor of computer science at Columbia University. "I've been shocked auction prices got into the six digits. The market has just gone crazy."

Christie's latest auction "First Bytes: Iconic Technology from the Twentieth Century" will be conducted till July 9. Currently, you can have a glimpse of Apple 1 at Computer History Museum in Mountain View, San Francisco.

After the demise of Steve Jobs in 2011, Apple touched greater heights under Tim Cook. The Cupertino-based company announced iPhone 5, iOS 7 and iPad Mini. But now for the last few days, Apple is underperforming. Analysts' say Apple devices are being made in competitors in mind.

Steve Jobs biography by Walter Isaacson, which went on to biggest seller last year, is now set to be made available in paperback edition. Steve Jobs magic is not restricted to books only. In the coming days, Ashton Kutcher starrer ‘JOBS ‘ is expected to be out this August. Stay tuned to GizBot.