A human-sized Labubu toy has sold for over $150,000 at a Beijing auction, setting a new record as the blind box collectible craze shifts into the realm of high-end art.

A human-sized Labubu figure has sold for 1.08 million yuan ($150,275.51) at an auction in Beijing, marking a record for the collectible toy and highlighting its transition from mass-market craze to high-value collector's item.

The sale took place at Yongle International Auction, an auction house known for fine art and jewellery, which hosted the first-ever dedicated Labubu auction. A total of 48 lots were offered, raising 3.73 million yuan in total. Around 200 people attended in person, with over a thousand bidding via the company’s app.

The top lot, a mint green 131 cm tall Labubu, is believed to be the only one of its kind and attracted several bids before reaching the final hammer price. Another standout item—a set of three 40 cm tall “Three Wise Labubu” figures made from PVC—sold for 510,000 yuan. The limited-edition set, originally released in 2017, had previously fetched HKD 203,200 ($25,889.64) at a Sotheby’s auction in Hong Kong.

Labubu was created by Hong Kong illustrator Kasing Lung a decade ago. In 2019, the character became commercially available through Chinese toy company Pop Mart, known for marketing “blind box” toys—sealed packages where buyers don’t know which figure they’re getting. In stores, these figures typically retail for around 50 yuan.

Labubu’s popularity surged internationally after Blackpink’s Lisa was seen with one of the figures and spoke fondly of it in interviews and online. British football star David Beckham also posted a photo of his own Labubu on Instagram, further boosting its visibility.

Despite the high prices, interest remains strong. A bidder identified only by the surname Du, a restaurant owner, said she had hoped to spend 20,000 yuan but was unable to secure a figure. “My child likes it, so we always buy one or two when new ones are released,” she said. “It’s hard to explain its popularity, but it must have moved this generation.”

Copied