HONG KONG — A life-size Labubu figure has been sold in China for more than $170,000, a record for the highly sought-after toothy monster toy boosted by celebrities.
The 4-foot-tall mint green doll, whose price included a 15% commission, was traded in Beijing on Tuesday at what was billed as the world’s first auction dedicated to Labubu collectibles. Event organizer Yongle Auction said the life-size doll, which is made of hard plastic PVC, is the only one of its kind.
The auction sold all 48 lots for total sales of 3.73 million yuan, or about $520,000, with nearly 1,000 collectors making bids either in person or online, Yongle said in a statement Wednesday. The event came amid a global frenzy over Labubu, which is sold in “blind boxes” by Chinese toy company Pop Mart.
The “intense” bidding showed the “growing momentum of pop art in the auction market,” Yongle said, adding that it will start holding Labubu auctions “regularly.”
The Labubu item that received the second-highest bid was another life-size figure that sold for more than $130,000 and measured 5 feet tall. Coming in third was a set from a series called “Three Wise Labubu” — one doll crossing its arms, one making a peekaboo gesture, and one covering its mouth — that sold for more than $80,000 including commission.
The success of Labubu at auction reflects the “growing presence” of art toys in the market and the progress of Hong Kong and mainland China in setting trends in contemporary culture, said Felix Kwok, a registered auctioneer of China and the founder of Art and Culture Exchange.
“In a somewhat stagnant art auction market, this development is both stimulating and indicative,” he told NBC News via messaging app.
Created in 2015 by Hong Kong-born artist Kasing Lung, Labubu is one of “The Monsters” in his children’s book series inspired by Nordic mythology. With high, pointed ears and serrated teeth, the small monster is “kind-hearted and always wants to help, but often accidentally achieves the opposite,” according to Pop Market.
Labubu dolls are often sold in “blind boxes,” sealed packages whose contents are revealed only upon opening. In the U.S. store, one blind box from a recent collection retails for $27.99, while a set of six costs $167.94, though prices can more double on resale sites such as eBay.
The dolls have also been popularized by celebrities such as Rihanna and Lisa from the South Korean girl group Blackpink, both of whom have been spotted sporting Labubu charms on their handbags.
Despite the global trade disruptions caused by U.S. tariffs, fans have continued to line up at Pop Market shops across the world to buy Labubu dolls. Last month, the Chinese retailer even paused Labubu sales in all 16 shops in the U.K. to avoid safety issues following reports of disorderly lines and fights.
In the first three months of this year, Pop Market’s overseas revenue rose almost 480% overall compared with a year earlier, and nearly 900% in the Americas, according to its quarterly report.
As Labubu’s popularity soars globally, Wang Ning, the founder of Pop Market, became $8 billion richer between 2024 and 2025, a fivefold increase in his wealth, according to Forbes.
