A human-sized Labubu figure sold for $150,275 at Yongle International Auction in Beijing, setting a new record for a blind box toy. The event, dedicated entirely to Labubu figurines by Pop Mart, highlighted the toy’s transition from a viral craze to a high-value collectable.
The Yongle International Auction, traditionally focused on modern art and jewellery, hosted its first Labubu-exclusive event, offering 48 lots. Approximately 200 attendees participated in person, while over 1,000 bidders placed offers via Yongle’s mobile app. The auction raised $518,952, with a mint green, 131 cm tall Labubu figure unique in the world fetching $150,275 after multiple bids.
A set of three 40 cm “Three Wise Labubu” PVC sculptures, limited to 120 sets from 2017, sold for $70,956, compared to $25,889 at a recent Sotheby’s auction in Hong Kong.
“It’s a world record for a Labubu sculpture, but prices may climb higher as it’s a non-standard art piece,” said Yongle’s founder, Zhao Xu.
A human-sized Labubu figurine sells for over $150,000 at auction in Beijing https://t.co/Uc25QJBlDl pic.twitter.com/IvrlyvvSUt
— Reuters (@Reuters) June 10, 2025Created by Hong Kong artist Kasing Lung in 2015 as part of “The Monsters” book series, Labubu is a mischievous, toothy, elf-like creature. In 2019, Pop Mart, a Chinese toy company, began selling Labubu in blind boxes, where buyers don’t know the design until opening. Priced at around $7 in stores, these toys became a global sensation, fueled by celebrity endorsements like Blackpink’s Lisa and David Beckham.
Lisa’s Instagram posts, interviews praising Labubu, and Beckham’s photo of a Labubu bag charm sparked a frenzy, with fans lining up overnight for releases.
Why Labubu Captivates Collectors
The blind box format, offering surprise and rarity, drives Labubu’s appeal, especially among Millennials and Gen Z. A bidder named Du, a restaurant owner, told Reuters, “My child loves Labubu, so we buy new releases. Its popularity is hard to explain, but it resonates with this generation.” Despite planning to spend $2,782, she left empty-handed due to high prices.
Pop Mart’s marketing, including social media and unboxing videos, amplifies the craze, creating a sense of community and competition.
A mint green #Labubu figure sold for 1.08 million yuan (US$149,000) at Yongle 2025 Spring Auction on June 10. Standing 131cm tall and made of PVC, it’s marked as the only one in existence. #POPMART pic.twitter.com/I9Dadq6ufi
— Shanghai Daily (@shanghaidaily) June 10, 2025The auction underscores Labubu’s shift from toy to high-value art, with Pop Mart’s market cap rivalling Sanrio’s. Posts on X reflect excitement, with some comparing the craze to NFT mania, though others warn of a potential bubble. The event signals growing investor interest in designer toys as alternative assets.
The $150,275 sale of a Labubu figure at Yongle Auction on June 10, 2025, marks a milestone for Pop Mart’s blind box toys. Fueled by celebrity endorsements and collector fervour, Labubu has redefined the collectable market. As demand grows, the toy’s cultural and financial impact continues to captivate global audiences.
