What began as a quirky art toy has exploded into a full-blown cultural phenomenon, with life-size Labubu dolls now commanding six-figure sums at auction and celebrities from Rihanna to Olympic gymnast Simone Biles fueling an international collectible frenzy.
The craze reached new heights this week when a mint-green, 4-foot-tall Labubu figure sold for over $150,000 (including 15 per cent commission) at the world’s first dedicated Labubu auction in Beijing. The hard-plastic PVC doll – the only one of its kind – led 48 lots that collectively fetched $520,000, with nearly 1,000 collectors bidding in-person and online.
“This intense bidding shows the growing momentum of pop art in the auction market,” stated Yongle Auction, which plans to hold Labubu auctions regularly after the groundbreaking event. A 5-foot-tall figure placed second at $130,000, while the “Three Wise Labubu” set sold for $80,000.
From Obscure Art Toy to Celebrity Must-Have
Created in 2015 by Hong Kong artist Kasing Lung as part of his “The Monsters” children’s book series inspired by Nordic mythology, Labubu’s distinctive design – high pointed ears, serrated teeth, and wide-eyed expression – has polarized audiences. Pop Mart describes the character as “kind-hearted and always wanting to help, but often accidentally achieving the opposite.”
The doll’s journey from niche art toy to mainstream obsession accelerated through celebrity endorsements. “Rihanna and Dua Lipa have been seen with Labubus, which helped give the toy a boost in popularity,” Emily Brough, POP MART North America’s head of licensing, told USA TODAY. BLACKPINK’s Lisa and Lizzo have also been spotted with the dolls, often as handbag charms.
The Blind Box Phenomenon
Pop Mart’s genius marketing strategy of selling Labubus in “blind boxes” – sealed packages revealing their contents only upon opening – has created collector mania. While U.S. retail prices range from $27.99 for a single blind box to $167.94 for sets, resale values on platforms like eBay frequently double.
The frenzy has led to extraordinary scenes globally, including Pop Mart temporarily suspending U.K. Labubu sales last month after reports of disorderly lines and fights at their 16 British locations. The company’s Q1 earnings reflect the craze: overseas revenue surged 480 per cent year-over-year, with nearly 900 per cent growth in the Americas.
Economic Impact and Cultural Significance
The Labubu wave has minted fortunes, with Pop Mart founder Wang Ning’s wealth quintupling from 2024-2025 to $8 billion according to Forbes. Auctioneer Felix Kwok notes the trend’s broader implications: “In a somewhat stagnant art auction market, this development is both stimulating and indicative of Hong Kong and mainland China’s growing influence in setting contemporary culture trends.”
With knockoffs flooding markets and original merchandise consistently sold out, Labubu has unquestionably become Gen Z’s answer to the 90s Furby craze – but with art world credibility and investment-grade appeal that’s rewriting the rules of toy collecting.
