A life-sized Labubu doll has sold at auction in Beijing for 1.08 million yuan ($150,324), setting a new global record for a toy of its kind.
The 131-centimeter (4ft 4in) figurine was sold by Yongle International Auction, which confirmed it is now the most expensive Labubu figure ever purchased.
Labubu characters, created by Hong Kong artist Kasing Lung, have gained a cult following in recent years, driven in part by celebrity endorsements and viral social media trends. Typically sold for around 50 yuan by Chinese toy company Pop Mart, the quirky monster-themed toys have become highly sought-after collectibles.
This week’s auction was devoted entirely to Labubu items, featuring 48 lots and drawing around 200 attendees. The event raised a total of 3.37 million yuan.
The toys surged in popularity after being featured by celebrities such as Lisa from K-pop group Blackpink, Rihanna, Dua Lipa, and even David Beckham, who posted a photo of a Labubu keychain on his bag.
Labubu dolls are often sold in mystery “blind boxes,” where buyers only discover the toy’s design after opening the packaging. Their rising demand has helped boost Pop Mart’s financial growth, with the company reporting revenue of 13 million yuan in 2024, more than double the previous year.
Earlier this year, Pop Mart suspended Labubu sales in the UK following reports of customer altercations at stores.
