Labubu Doll Fetches Record Price at Beijing Auction
A life-sized Labubu doll made waves when it sold for an astounding 1.08 million yuan (around $150,275) during a recent auction in Beijing. This single piece, standing over four feet tall, has set a new record for the popular collectible, underscoring the surging demand for Labubu figures among collectors and fans alike.
First-Ever Dedicated Labubu Auction Draws Massive Interest
The auction, hosted by Yongle International Auction, marked the company's inaugural event exclusively focused on Labubu collectibles. Featuring 48 items, the sale attracted more than a thousand bidders via the mobile app and around 200 attendees in person. All items started with no reserve prices, culminating in a total sales amount of 3.73 million yuan.
Meet Labubu: The Quirky Monster Captivating a Generation
Labubu dolls are known for their whimsical design—oversized eyes, a cheeky grin, and a furry texture—crafted by artist Kasing Lung and produced primarily by Chinese toy company Pop Mart. The most valuable item, a mint-green, 4.3-foot-tall Labubu figure, was unique in the world, prompting fierce bidding competition before its final hammer price.
Celebrity Endorsements Boost Labubu’s Popularity
The doll's popularity skyrocketed internationally following high-profile endorsements. K-pop star Lisa from Blackpink frequently showcased her Labubu figure on social media and in interviews, praising the character. More recently, football icon David Beckham shared an Instagram photo featuring his Labubu doll attached to his bag, further fueling the collectible's global appeal.
Collectors Persevere Despite Rising Prices
One enthusiastic bidder, known as Du, admitted she initially planned to spend no more than 20,000 yuan but was outbid as prices soared beyond expectations. Reflecting on Labubu’s widespread charm, she said, "My child loves it, so whenever a new Labubu product drops, we get one or two items. It’s hard to put into words, but this doll really resonates with our generation."
Previous High-Value Sales Highlight Labubu’s Market Growth
The recent sale isn’t the first time Labubu dolls have commanded substantial sums. In the past, a limited "Three Wise Labubu" PVC sculpture set from 2017, comprising three 40 cm figures, fetched 510,000 yuan. Additionally, a Labubu set achieved over HKD 203,200 (approximately $25,890) at a Sotheby’s auction in Hong Kong, signaling the doll’s rising prominence in collector circles.
Why Labubu’s Appeal Endures
What started as a quirky character has evolved into a pop culture phenomenon. The combination of playful design, scarcity of certain editions, and endorsements from global celebrities has made Labubu a coveted figure—a symbol that speaks to nostalgia, creativity, and current youth culture all at once.
