Popular Labubu Dolls Being Swiped By Scalpers
Labubu dolls have became a pop-culture sensation, but some are taking advantage of collectors., Morning Report producer
Labubus are the latest collectable toy craze to hit the market.
But frenzied fans are becoming increasingly frustrated by how much they are having to spend to get them.
The dolls, sold by Chinese toy company POP MART, are being snatched up by scalpers and re-sold online for hundreds of dollars.
Labubu dolls are roughly hand sized – they have nine teeth and look like a cross between a fluffy rabbit and a monster from the children's book Where the Wild Things Are.
After K-pop star 'Lisa' was seen with her own Labubu late last year, the fluffy dolls became a pop-culture sensation.
They've even featured in Lizzo's song 'WHIM WHAMIEE'.
Kate Sabatin has six Labubus and explains her attraction to the dolls.
'They're ugly to the point that they are cute. Like they are so ugly they are cute' she said.
Aucklander Sophia Ibbetson is the proud owner of 10 dolls, which she has been collecting since late last year.
At first they were relatively easy to buy, but Ibbetson explained now it was nearly impossible.
Last month she visited POP MART in Newmarket where she saw roughly 200 people queuing for a doll.
'There was a huge line that wrapped around Newmarket.'
According to Ibbetson scalpers have quickly taken control of the market.
'They'll launch it at 1:15pm and then by 1:45pm they'll send a message saying it's sold out.
'You'll see just a bunch of resellers reselling the same collection that they just launched at Newmarket for like double the price,' she said.
Speaking under the alias 'Adam', a self-described 'religious scalper', said he transitioned from sneaker flipping to Labubus when the hype peaked at the end of last year.
He's part of a syndicate of around 12 re-sellers who call themselves 'Link', buying box sets to flip for profit.
'You can buy one box which is six items they retail for about $230 for the newest set – and you can flip them from anywhere from 5-to-600 bucks. Most of us will get, like two to three [boxes] each which is 12 to 18 [dolls].'
Adam is a university student and he hoped to get out of scalping when he finished studying.
'You know, it's not exactly honourable, so I would hate to be doing it once I'm all qualified and everything.'
Australian re-seller Jordan Caruccio believed the surprise factor was a major reason why the dolls were so popular.
Rare dolls, known as secrets, go for big bucks.
'I think it's one in every 75 boxes they have a secret one, so you've got to be super lucky.
'But that secret one is worth like $500-$600, and if you have that, everyone looks at you like you're the Labubu god.'
Ibbetson has given up trying to buy one of the newest Labubu releases and was collecting other POP MART figurines instead.
'It's kind of made it unenjoyable for someone like me, just fighting to enjoy them, because I can't, because I now have to pay the reseller price.'
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