Picasso? Unknown. Rolex? Unconcerned. The hottest item in today’s collectibles landscape is a mischievous, sharp-toothed, gremlin-inspired little girl named Labubu. Incredibly, someone just shelled out $150,000 for one.
As reported by CNN, a mint green, first-generation Labubu figure, measuring a striking 131 centimeters in height, was auctioned in Beijing for 1.08 million yuan, roughly translating to $150,325.
Take a moment to absorb this: $150K. For a toy figure sporting a devilish grin and bunny ears. Labubu is truly an icon, a legend — she defines the moment.
What sets this $150K Labubu apart?
This wasn’t your run-of-the-mill Labubu plush keychain from Pop Mart, which generally retails between $27.99 and $39.99. This Labubu was a unique item, auctioned at the prestigious Yongle International Auction House, renowned for fine jewelry and contemporary art. The conclusion of the auction signified a pivotal chapter in the history of collectible toys.
The minty mischief-maker towered like a whimsical art statue, alongside 48 rare Labubus, including a 160 cm brown variant that sold for $114,000. With only 15 of those in existence, even that couldn’t eclipse the breathtaking price of the green figure.
So, what drives people to shell out Range Rover money for a Labubu?
Blame the worldwide Labubu phenomenon.
Born from the imagination of Hong Kong illustrator Kasing Lung and mass-produced by the Chinese toy giant Pop Mart, Labubu transcends a mere cuddle toy. It embodies art, misfit allure, and collector’s desirability. Think of it as a fusion of a Nordic mythological creature and a TikTok sensation, with a resale market that far outpaces its retail value. It’s not unusual for enthusiasts to pay double or triple for a Labubu keychain, while limited-edition drops and collaborations can command hundreds on platforms like StockX.
The demand is unmistakable. Pop Mart outlets often witness queues and sold-out releases for Labubu products. Blind boxes, featuring surprise characters, fly off the shelves, with $28 toys being resold online for upwards of $270. Labubu isn’t merely fashionable — she’s a sensation in pop culture.
Stars like BLACKPINK’s Lisa, Rihanna, Dua Lipa, and basketball player Dillon Brooks have been spotted sporting Labubus on their bags and belt loops. Labubu stands as the most whimsical accessory in fashion, a grinning emblem of self-expression and consumer culture.
According to previous reports by Mashable, Pop Mart is flourishing. “Labubu is currently Pop Mart’s top-selling IP in the U.S. and ranks among the strongest globally,” stated Emily Brough, Pop Mart’s head of IP licensing for the Americas. In 2024 alone, Labubu generated over $419 million, surpassing all other IPs in the company’s offerings. The firm’s revenue in China alone hit $1.09 billion, marking a 34 percent rise from the previous year, as per CNN. Worldwide, Pop Mart’s profits skyrocketed by 125 percent, largely driven by Labubu-mania.