Labubu Doll Auctions for Over $170,000 at Beijing, Sparking Global Collectors’ Frenzy

A life-size Labubu figure has set a record by being sold in China for over $170,000, highlighting the growing allure of this toothy monster toy that has gained popularity thanks to celebrity endorsements. The 4-foot-tall mint-green doll was auctioned in Beijing on Tuesday during what is being termed the world’s first auction exclusively for Labubu collectibles. The organizer, Yongle Auction, noted that this unique doll is crafted from hard-plastic PVC. The auction was a resounding success, with all 48 lots selling for a total of 3.73 million yuan, approximately $520,000.

Nearly 1,000 collectors participated, placing bids either in person or online. Yongle Auction highlighted the “intense” bidding as a reflection of the growing momentum of pop art within the auction market, announcing plans to hold Labubu auctions on a regular basis. Another life-size Labubu figure fetched more than $130,000, while a set titled “Three Wise Labubu” sold for over $80,000, demonstrating the strong demand for these collectibles. Felix Kwok, a seasoned auctioneer and founder of Art and Culture Exchange, remarked that the success of Labubu at auction signifies the expanding footprint of art toys in contemporary culture.

Labubu was created in 2015 by Hong Kong-born artist Kasing Lung. The character, part of his children’s book series inspired by Nordic mythology, is a kind-hearted monster with high pointed ears and serrated teeth. Labubu dolls are commonly sold in sealed “blind boxes,” with collectors often eager to discover their contents. Despite challenges posed by global trade disruptions and safety concerns leading to temporary pauses in sales at certain locations, Labubu’s popularity remains strong.

Recent reports indicate that overseas revenue for its parent company, Pop Mart, surged significantly, particularly in the Americas, marking an extraordinary growth phase for the brand and its founder, Wang Ning.