'Most expensive' Labubu x Vans doll sells out for ₹9.15 lakh on eBay; 125 times more than original price

Mint

5 days ago

It seems like the viral Labubu trend is here to stay for a long time. E-commerce platform eBay last week witnessed a rare Labubu getting sold for a whopping ₹ 9.15 lakh, making the resale value nearly 125 times more than its actual price, the New York Post reported. The rare Labubu x Vans has now emerged as the most expensive of the viral toys sold on the platform.
The Labubu doll is grey-brownish in color and wears Vans streetwear. In viral images, it can be seen donning a Vans sweatshirt, a blue and orange hat that has 'The Monsters' written in the front, as well as sneakers specially designed by the skater brand. Notably, "The Monsters" is a series of Labubu characters that the doll is a part of.
First launched in 2023, this Labubu doll was initially a part of the popular blind boxes from Pop Mart. The series came out as part of the major collaboration between Labubu and Vans. Interestingly, the doll was being sold at the retail price of ₹ 7,400 at the time of its release. With the Labubu trend gaining significant attention around the world, it has now been purchased for ₹ 9.15 lakh, making its resale value 125 times more than the original price.
Labubu was initially created by cartoonist Kasing Lung in 2015, featuring in his The Monsters book series. This came to his mind after getting inspired by Nordic fairytales when he moved to the Netherlands from Hong Kong at the age of seven, The Guardian reported.
In 2019, Lung joined hands with Pop Mart, with this collaboration going on to bring the unique creatures to life. On secondary markets, Labubu dolls have been among the most searched items, with experts suggesting that these have helped in making legitimate investments, especially due to the limited supply model of Pop Mart, according to Forbes. Lori Verderame, a collectible appraiser who runs her own show on the History Channel, said the "unique look and general appeal" of the Labubu dolls will go on to make them a "strong market collectible for years to come'.
These dolls are being offered in various collections and usually come out in "blind boxes". Customers get to see the content only when they open it.
Labubu, which were made earlier, are the ones holding great value in the market, New York Post quoted Alex Fung, pop culture consignment director at Goldin Auctions, as saying. Customers usually get these dolls for around ₹ 1,744 to ₹ 3,488. Recently, a pink 'secret' edition of Labubu, which initially came out early last year, was sold for ₹ 1.74 lakh on eBay.
According to Forbes, the net worth of Pop Mart CEO Wang Ning has jumped from $2 billion in 2024 to $22 billion.
Fans can purchase them from the official website of Pop Mart and other retailers.
These were created by Hong Kong artist Kasing Lung after getting inspired by Nordic mythology.