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4mo ago

Human-Sized Labubu Doll Fetches Record $150,000 at Beijing Auction

The record price reflects escalating frenzy for Pop Mart’s blind-box Labubu figures.

A human-sized Labubu figurine is displayed before an auction in Beijing, China June 6, 2025. The figurine was later sold for 1.08 million yuan at an auction by Yongle International Auction on June 10, 2025
People are paying thousands of dollars for Labubu figures.
fashion, Sonya Yu, blind box, trend, labubu, pop mart, toy 419 Gallery owner Sonya Yu shows off figurines in her Labubu collection in San Francisco on Friday, June 6, 2025. Labubu figurines have been around for a decade, but more recently soared into popularity after K-pop star Lisa from BLACKPINK started showing hers off. The craze has hit a peak in the Bay Area.

Overview

  • A mint-green, 131cm-tall Labubu figure sold for 1.08 million yuan ($150,275) at the first Labubu-only sale held by Beijing’s Yongle International Auction on June 10.
  • The event offered 48 lots, drew about 200 in-person bidders and over 1,000 online participants, and raised a total of 3.73 million yuan.
  • Created in 2015 by Hong Kong artist Kasing Lung and marketed by Pop Mart in mystery “blind boxes” since 2019, Labubu dolls have become coveted collectibles.
  • Pop Mart’s overseas revenue surged nearly 480% in the first quarter of 2025, and rare Labubu editions command up to $5,000 on resale platforms.
  • Intense demand has sparked in-store brawls and a flood of counterfeit “Lafufu” dolls, prompting Chinese regulators to ban banks from offering Labubu as promotional incentives.