One of the first ever Apple computers dating back to 1976, is going up for auction at Christie's auction block next week, and guess what? It could sell for as much as $500,000. Now, that's a lot of money for a computer that lacks the functionality to browse the Internet or to perform any advanced calculations currently done on modern Apple computers.

Auction for the device will begin at $300,000 starting next week when the bidding wars begin. Not many of these 1976 Apple computers are around, because only 200 were made according to ABC Local, so one would be extremely lucky to even find at least 10 of these computers in the wild.

"This is a piece of history that made a difference in the world, it's where the computer revolution started," said Ted Perry, a retired school psychologist who owns the old Apple and has kept it stashed away in a cardboard box at his home outside Sacramento, California.

Since the death of Apple founder Steve Jobs in 2011, the demand for vintage Apple products have grown. Last month, an Apple 1 device was sold for $671,400 by a German auction house, topping the previous record of $640,000 set in November of 2012. In 2012, another Apple 1 device was sold for $374,500, further proving that old Apple hardware are worth a lot in this day and age.

"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."

By the look of things, many Apple fans should consider holding tight to the first iPhone if they still have one lying around. Who knows what can happen in the next 30-40 years, we might just live to see an Apple iPhone in the auction houses going for a cool million dollars.