A human-sized Labubu figure was auctioned for a staggering $150,275.51 (1.08 million yuan) at the Yongle International Auction House in Beijing on Tuesday, June 10, 2025, setting a new record for a “blind box” toy, according to Reuters.
The bidding war attracted over 2,000 participants via Yongle’s mobile app and nearly 200 attendees in person. One hopeful bidder, Du, shared that she intended to spend no more than 20,000 yuan, but walked away empty-handed as the price skyrocketed past $150,000.
“My child loves Labubu, so we usually buy one or two whenever new products launch. It’s hard to explain the craze, but it clearly resonates with this generation,” Du told Reuters.
The prized item was a one-of-a-kind 4.3-foot (131 cm) tall Labubu figure in a “mint green” color, and it became the highest-selling piece at the auction that day.
Labubu was originally created by Hong Kong-based artist and illustrator Kasing Lung nearly a decade ago. In 2019, Lung partnered with Chinese toymaker Pop Mart to release the character as part of their collectible series, sold in blind boxes that keep the design a surprise until opened.
Why is the toy so popular?
The Labubu figurine gained widespread popularity after being spotted with global celebrities. Korean pop star Lisa from Blackpink praised the toy in interviews and online, while football legend David Beckham shared a photo of his Labubu figure hanging from a bag on Instagram.
According to a previous report by Mint, other well-known personalities such as Dua Lipa and Janhvi Kapoor also own the China-made collectible, fueling its desirability and driving up its cultural appeal.
