A rare Labubu doll sold for 1.08 million yuan (approximately $150,000) at an auction in Beijing on Tuesday, as demand for the quirky, monster-like toys designed by Hong Kong artist Kasing Lung continues to soar worldwide.
The turquoise figure, standing at 131 centimeters tall with a furry head and body, is reportedly the only one of its kind in existence. It was sold through Yongle Auction House, which noted the doll’s uniqueness contributed significantly to its final price.
The auction also featured another large Labubu piece — a 160-centimeter-tall version with brown hair — that fetched 820,000 yuan (around $114,000). Both items reflect the growing international interest in collectible designer toys, particularly those made by Pop Mart, the Chinese company behind the Labubu series.
Kasing Lung originally created the Labubu characters as part of a whimsical universe of hand-drawn monster-like creatures. The dolls are now produced as limited-edition collectibles by Pop Mart, a company that has become a leader in China’s booming designer toy industry. The brand is especially known for its “blind box” toy culture, where customers purchase sealed boxes without knowing which figure is inside — an approach that fuels both excitement and a strong resale market.
Pop Mart’s reach has rapidly expanded beyond China, with more than 400 stores globally and an enthusiastic fanbase that includes serious collectors willing to spend thousands for rare or exclusive items. The brand’s success has also been boosted by collaborations with artists and designers, including Lung, who brings an expressive and often eerie charm to his characters.
The recent auction underscored Labubu’s status as a standout figure within the Pop Mart portfolio. Often featuring wide grins, large eyes, and exaggerated ears, the dolls evoke both nostalgia and novelty — appealing to a mix of millennial toy lovers, street culture fans, and high-end art collectors.
Social media has played a crucial role in the rise of Labubu and similar designer toys. Limited releases frequently sell out within minutes, and resale prices can far exceed original retail costs. This secondary market has transformed what were once niche art toys into major cultural and financial phenomena.
The six-figure sale price of the turquoise Labubu signals a turning point in the perception of collectible toys, moving them from the realm of novelty items into that of serious investment pieces.
As global interest grows, Pop Mart and Kasing Lung appear poised to continue redefining the boundaries between art, play, and commerce — with Labubu leading the charge as an icon of the designer toy movement.
