Labubu human-sized figure sells for over $193,000 at Beijing auction
BEIJING – A Beijing auction house sold a human-sized Labubu figure for 1.08 million yuan (S$193,400) on June 10, setting a new record for the 'blind box' toy as it moves from craze to collectible.
The event held by Yongle International Auction, which traditionally specialises in modern art, as well as jewellery, marked the first ever auction dedicated to Labubu, toothy monster figurines that are mainly sold by China's toy company Pop Mart and have been at the centre of a global frenzy for the past year.
The auction offered 48 lots for sale and was attended in person by roughly 200 people, while over a thousand bidders put down offers via Yongle's mobile app, the auction house said.
The starting price for all the items started at zero and it eventually raised a total of 3.73 million yuan.
The highest grossing item, a mint green, 131cm tall Labubu figure, received several bids to sell for 1.08 million yuan. The auctioneer said it was the only one available in the world.
A set of three Labubu sculptures, about 40cm tall and made of PVC material, sold for 510,000 yuan. The set, from a series called 'Three Wise Labubu', was limited to a run of 120 sets in 2017 and another one sold for HK$203,200 (S$33,300) at Sotheby's most recent auction in Hong Kong.
Labubu was created a decade ago by Hong Kong artist and illustrator Kasing Lung.
In 2019, Mr Lung agreed to let them be sold by Pop Mart, a Chinese toy company that markets collectable figurines often sold in 'blind boxes'.
A buyer of a blind box toy does not know exactly what design they will receive until they open the packaging. The starting price for Labubu blind box toys sold in Pop Mart's stores is around 50 yuan.
The character's popularity skyrocketed after Lisa of the Korean pop music group Blackpink was spotted with a Labubu and praised the doll in interviews and online posts. Many celebrities followed.
In May, British football star David Beckham shared a photo on Instagram of his Labubu attached to a bag.
One Yongle auction bidder, a restaurant owner who only gave her surname as Du, said she had planned to spend a maximum of 20,000 yuan but walked away empty handed as the final prices were too high.
'My child likes it, so every time… Labubu released new products, we will buy one or two items. It is hard to explain its popularity, but it must have moved this generation,' she said. REUTERS
Join ST's Telegram channel and get the latest breaking news delivered to you.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
AsiaOne
13 hours ago
- AsiaOne
Huang Zitao and Xu Yiyang to hold wedding in October with 100 fans in attendance , Entertainment News
Chinese singers Huang Zitao and Xu Yiyang will be holding their wedding reception in October. Zitao, 32, broke the news on a recent episode of the variety show Our Love Song. He entered showbiz in 2012 as a member of K-pop group Exo while Yiyang was a former SM Entertainment trainee. According to media reports, his team has been making wedding preparations for half a year, with seats specially reserved for 100 fans at the venue. The news has left netizens speculating whether Exo and fellow ex-member Luhan would be in attendance. Zitao - known as Tao during his time in Exo - left the group in 2015 and returned to China, where he set up his own agency, Studio. Yiyang, who turns 28 in September, was part of SM Rookies but did not debut. She joined Zitao's company Entertainment in 2018 and made her solo debut in 2020. Although rumours of them dating had circulated for years, they only confirmed their relationship in July 2024 and registered their marriage in December the same year. [[nid:721252]] syarifahsn@
AsiaOne
14 hours ago
- AsiaOne
Zheng Geping awarded Public Service Medal for contributions to Woodlands CCC, Entertainment News
Local actor-director Zheng Geping was conferred the Public Service Medal (Pingat Bakti Masyarakat) at the National Day Awards this year. The list of recipients was announced on Saturday (Aug 9) by the Prime Minister's Office, where his name is included. The 61-year-old, who has volunteered for 15 years, was awarded for his service at the Woodlands Citizens' Consultative Committee (CCC). He told Shin Min Daily News in a report published on Saturday that he had learnt about his award through Sembawang GRC MP Mariam Jaafar just a few days prior. He added that other than his family, he didn't tell anyone else about the honour, as he believed he only made a small contribution to the community. Geping is married to local actress Hong Huifang, 64, and they have two children, actress Tay Ying, 29, and singer-actor Calvert Tay, 25. Tay Ying tied the knot with celebrity chef Wu Sihan, 33, in June. He told the Chinese daily he signed up as a volunteer years ago after being urged by his friend: "I joined because of my curiosity about what the team does. I am not a resident of Woodlands." As a volunteer, Geping is involved in various events in the neighbourhood, including distributing items to families in need, community performances, fundraising at charity events and helping out at the Meet-the-People sessions and he said it's a fulfilling experience for him. He said the most gratifying part about volunteering is bringing happiness to the residents and recipients, especially the senior citizens. Geping added that he would continue to volunteer whenever he is available. He also made a Instagram post yesterday, where he shared he is "deeply grateful and humbled" to receive the award. He wrote: "This recognition is not mine alone. It belongs to my brothers and sisters at Woodlands CCC, the amazing residents of Woodlands, and our tireless Advisor Mariam Jaafar. Your trust, love and support inspire me to keep serving with heart." [[nid:721215]] No part of this article can be reproduced without permission from AsiaOne.
Straits Times
a day ago
- Straits Times
Boy in Shanghai causes $72,000 in property damages in tantrum over Labubu doll
Sign up now: Get ST's newsletters delivered to your inbox Images on social media show glass shards in a Chinese influencer's home after a boy threw a remote control at the mirror-glass ceiling. A boy threw a tantrum over a jewel-adorned Labubu doll, causing over 400,000 yuan (S$72,000) in property damages at the Shanghai home of the toy's owner, a Chinese influencer. In a post on the Chinese social media platform Xiaohongshu (Little Red Book), the influencer – Brother Tail – said the boy saw a Labubu doll adorned with expensive jewellery at his home, and demanded to have it . When told no, the boy had a meltdown. At one point, he grabbed a remote control and threw it towards the mirror-glass ceiling. It caused a portion of the ceiling to shatter, and an Italian crystal chandelier worth about 300,000 yuan to fall. Brother Tail said the boy came to his home with a visiting kin. The incident happened on Aug 1, and Brother Tail said in his post he had since repaired the ceiling and chandelier which cost roughly 400,000 yuan . He said the parents of the boy – who appeared to show no remorse – offered to 'sell everything they had', but could only cover just 20,000 yuan of the total cost, adding that the family was 'too poor', and that he did not think suing them would help. The Chinese influencer said the boy's parents requested that he not post about the incident, saying it might 'affect the boy's mood'. 'It's unbelievable how elders like to use trivial family ties as emotional blackmail. They really have no sense of boundaries,' he complained in his post. A retail monster Labubu is a quirky monster character created by Hong Kong-born artist Kasing Lung in 2015, and popularised through a collaboration with toy store Pop Mart. Pop Mart fuelled the Labubu trend via deft online marketing and by creating artificial scarcity through limited releases, 'secret' editions and ultra-rare colourways. Labubu's popularity reached stratospheric heights after celebrities like BlackPink's Lisa, Dua Lipa and Rihanna were seen on social media sporting the dolls as fashion accessories. Originally priced between US$20 (S$26) and US$40, the dolls are now reselling for thousands of dollars. Some rare editions have been sold for over US$150,000 at auctions. The hype, scarcity and outrageous demand have led to fights, skirmishes and sheer retail chaos. Pop Mart suspended in-store Labubu sales across all 16 locations in Britain in May after fights broke out among customers. A Pop Mart store in Hangzhou, China, shut down just two hours in June after opening when scalpers rushed in. That same month, Pop Mart's flagship store in Seoul, South Korea, halted offline sales after fights broke out among customers and police had to be called in. In August, masked thieves broke into a California toy shop and snatched US$30,000 worth of Labubu dolls after they spotted a restock post on social media.
