Dubai-based entrepreneur Jimmy Grewal is one of Apple’s biggest fans, and one of the most prominent collectors in the Middle East.
If proof was needed, he has just sold an original Apple-1 computer with co-founder Steve Wozniak’s signature on it for $340,000 (AED 1.25 million) via eBay.
“I have two Apple-1 computers in my collection and my intention was always to restore both and sell one to fund further investments in my collection,” he told Arabian Business.
The computer, which still works, was valued at $485,000 before the start of the eBay auction. It is one of only 200 that were made.
The auction listing attracted more than 130,000 visitors and was actively “watched” by more than 6,500 eBay members. A total of 28 qualified bidders participated in the auction and submitted 113 bids.
“Our target was to achieve $300,000 and we were successful,” he added.
Not only is the Apple-1 rare, but it was also signed by Steve Wozniak. The Apple co-founder visited Dubai last November where Grewal met him.
His collection contains around 200 Apple computers and covers the first 30 years of Apple’s existence from 1976. It is widely considered one the rarest collections of Apple products in the Middle East.
Talking about the value of his collection, the Dubai entrepreneur said this was “very subjective”.
“I can only say that it’s insured for AED5 million, but the current market value is somewhat less than that.”
So why does he like Apple products so much? “I began using Apple products at the age of five in 1982 and that eventually led to a career building software for the Mac at Microsoft.
“Second, I bought a fair amount of Apple stock from 1999 to 2007. That investment has done extremely well for me and that’s why I’ve named this The AAPL Collection after the company’s stock ticker symbol.”
Grewal says he plans to use the proceeds of the auction to “further our plans to create more opportunities for the public in the UAE to interact with our extensive collection of vintage Apple products”.
The story of Apple’s stellar rise to become the world’s second most valuable company and a global tech giant is a great example for those interested in technology, innovation and entrepreneurship.
“Telling this story through its products helps to illustrate the successes and failures that were integral to Apple’s evolution,” added Grewal.
His collection includes the complete line of the Apple II and Macintosh computers, early hand-held devices, printers and displays, plus the original iPod, iPhone and iPad.
Mr. Grewal said there was only a handful of Apple products that are now worth more than when they were first released — and those tend to be the ones that were sold in limited numbers.
“The fact that our collection is based in Dubai and is recognised globally should come as no surprise given the UAE’s passion for technology and its broad adoption across all sectors of business and society.”
Follow us on
