Gigantic Labubu Statue Fetches More Than 150,000 US Dollars at Beijing Auction
A jam-packed auction house in Beijing witnessed history being made on Tuesday (Jun 10), as a mammoth Labubu figure, standing 131cm tall and dressed in mint green, sold for a staggering 1.08 million yuan (roughly US$150,275.51 or S$193,320)! This groundbreaking event, organized by Yongle International Auction, set a brand-new record for the "blind box" toy market, signaling its transition from a global craze to a lucrative sphere for collectibles.
Traditionally renowned for modern art and jewelry, Yongle International Auction took a leap by dedicating its first-ever event to the enigmatic Labubu figurines. These toothy monster toys, produced by China's toy company Pop Mart, have captivated masses worldwide ever since their upsurge in popularity a year ago.
Dubbed as the Labubu-palooza, the auction offered 48 lots, riveting approximately 200 in-person attendees and over a thousand bidders using Yongle's mobile app. The selected items, all starting at zero, amassed a grand total of 3.73 million yuan.
With multiple bids escalating the price tremendously, the star attraction (the colossal green Labubu) eventually went under the hammer for a whopping 1.08 million yuan. The auctioneer proudly declared it as the only one of its kind in the world!
The Labubu market has been experiencing skyrocketing popularity among Gen Z and adult collectors, with sales reaching staggering heights. Pop Mart, the company responsible for the toy line, reported a jaw-dropping 170% year-over-year increase in revenue in Q1 of 2025 and a whopping 9-fold surge in sales in the Americas alone[2]. Pop Mart's market value hovered around $34 billion after announcing its Q1 earnings, demonstrating the soaring demand for Labubu and similar toys[2].
As attention and investment are mounting, collectible Labubus, especially rare editions, are becoming coveted investment opportunities. Prices for these coveted items have soared by 741%, with rare figures selling for 3 to 5 times their original value[3].
As the "kidult" market, consisting of adult collectors, continues to fuel demand for Labubu, trends suggest that unique designs and limited editions will remain irresistible to collectors and investors[1][3]. Further expansion in regions where these items are considered status symbols indicates immense potential for the Labubu market to expand even further[2][3].
In a nutshell, the Labubu market is on a trajectory for sustained growth, serving as both a collectible and a status symbol. This groundbreaking auction of a human-sized figure only underscores the market's burgeoning appeal and immense investment potential.
The first-ever event hosted by Yongle International Auction expanded beyond modern art and jewelry, delving into the market of Labubu figurines, which are now sought after not only by the younger generation but also by adult collectors. This transition towards home-and-garden and lifestyle items, including sustainable-living products, could become a new direction for Yongle International Auction.
The groundbreaking auction held for Labubu figurines signaled a shift in the market's status, making it a lucrative sphere for collectibles that could potentially draw interest and investment in other eco-friendly, home and lifestyle items.
