Latest news with #YongleAuction
Al Bawaba
17 hours ago
- Entertainment
- Al Bawaba
Rare Labubu version sold for $150,000
Published June 12th, 2025 - 06:57 GMT ALBAWABA - A giant Labubu doll was sold at auction for $150,000, amid a global surge in demand for products featuring these Chinese-made characters, media reported. A turquoise Labubu doll, with a hairy body and head and measuring 131 centimeters tall, sold for a whopping 1.08 million yuan ($150,000) at a Beijing auction on Tuesday, according to Yongle Auction House, which noted that the piece is "the only one of its kind in the world." Labubu doll Hong Kong artist Kasing Lung designed the small stuffed Labubu dolls, monster-like creatures. They are being produced by the Chinese brand Pop Mart company. The doll was displayed alongside other Labubu products, including a 160-centimeter-tall brown-haired miniature that sold for 820,000 yuan ($114,000). Popmart has more than 400 stores worldwide. Rare Labubu doll © 2000 - 2025 Al Bawaba (
NBC News
a day ago
- Entertainment
- NBC News
Life-size Labubu doll sells for over $170,000 at Beijing auction amid global frenzy
HONG KONG — A life-size Labubu figure has been sold in China for more than $170,000, a record for the highly sought-after toothy monster toy boosted by celebrities. The 4-foot-tall mint green doll, whose price included a 15% commission, was traded in Beijing on Tuesday at what was billed as the world's first auction dedicated to Labubu collectibles. Event organizer Yongle Auction said the life-size doll, which is made of hard plastic PVC, is the only one of its kind. The auction sold all 48 lots for total sales of 3.73 million yuan, or about $520,000, with nearly 1,000 collectors making bids either in person or online, Yongle said in a statement Wednesday. The event came amid a global frenzy over Labubu, which is sold in 'blind boxes' by Chinese toy company Pop Mart. The 'intense' bidding showed the 'growing momentum of pop art in the auction market,' Yongle said, adding that it will start holding Labubu auctions 'regularly.' The Labubu item that received the second-highest bid was another life-size figure that sold for more than $130,000 and measured 5 feet tall. Coming in third was a set from a series called 'Three Wise Labubu' — one doll crossing its arms, one making a peekaboo gesture, and one covering its mouth — that sold for more than $80,000 including commission. The success of Labubu at auction reflects the 'growing presence' of art toys in the market and the progress of Hong Kong and mainland China in setting trends in contemporary culture, said Felix Kwok, a registered auctioneer of China and the founder of Art and Culture Exchange. 'In a somewhat stagnant art auction market, this development is both stimulating and indicative,' he told NBC News via messaging app. Created in 2015 by Hong Kong-born artist Kasing Lung, Labubu is one of 'The Monsters' in his children's book series inspired by Nordic mythology. With high, pointed ears and serrated teeth, the small monster is 'kind-hearted and always wants to help, but often accidentally achieves the opposite,' according to Pop Market. Labubu dolls are often sold in 'blind boxes,' sealed packages whose contents are revealed only upon opening. In the U.S. store, one blind box from a recent collection retails for $27.99, while a set of six costs $167.94, though prices can more double on resale sites such as eBay. The dolls have also been popularized by celebrities such as Rihanna and Lisa from the South Korean girl group Blackpink, both of whom have been spotted sporting Labubu charms on their handbags. Despite the global trade disruptions caused by U.S. tariffs, fans have continued to line up at Pop Market shops across the world to buy Labubu dolls. Last month, the Chinese retailer even paused Labubu sales in all 16 shops in the U.K. to avoid safety issues following reports of disorderly lines and fights. In the first three months of this year, Pop Market's overseas revenue rose almost 480% overall compared with a year earlier, and nearly 900% in the Americas, according to its quarterly report. according to Forbes.
Yahoo
2 days ago
- Entertainment
- Yahoo
Rare Labubu sells for more than $150,000 at auction
A rare, first-generation Labubu figure has sold for $150,000 in Beijing at an auction held exclusively for the toys that have taken the world by storm. The 131-centimeter (51-inch) mint green figurine with a gremlin-like appearance, sharp teeth and puckish grin went for 1.08 million yuan ($150,325) at the Yongle International Auction house that normally specializes in selling jewelry and modern art. 'Congratulations to the online buyer on collecting the world's only such one,' said the auctioneer at an exhibition center in downtown Beijing on Tuesday afternoon. Labubus are currently the trendiest plush toys on the planet, created by Hong Kong-born illustrator Kasing Lung and retailed by the Chinese toy giant Pop Mart. In recent months, the bunny-bodied, elf-faced creatures — equal parts grotesque and adorable — have soared in popularity, sparking buying frenzies around the world, and in some cases, brawls among fans outside shops selling them. Even in China, where Pop Mart is based and most of its toys are made, people are struggling to get their hands on Labubus. A total of 48 Labubus were auctioned at the special event, billed as the 'World's First' auction of first generation collectible Labubus. A brown, 160-centimeter (63-inch) Labubu figure, sold for $114,086, the second highest hammer price at the event. The company said only 15 such figures exist around the world. Other figures went for more than $1,000 each. 'As a trendy toy in China, Labubu is now becoming a global artwork as it has truly sparked a craze around the world,' Zhao Xu, the founder of Yongle Auction, told state-owned outlet The Beijing News. Zhao said the company plans to hold monthly livestream auctions for Labubu and other trendy artworks. A pair of Minions-like Labubus sold at auction for 10,000 yuan ($1,391). Buyers at the auction also had to pay an additional 15% brokerage fee on top of the hammer prices. And it's not rare to see a price inflation of Labubus due to the crazy demand in China. For instance, a blind box from the latest Labubu 3.0 series, originally priced at around $81, has been selling for up to $278 on the second-hand market, state-owned outlet Cover News reported. Labubu's viral popularity has been a booster for Pop Mart. Annual results show that the Chinese company's global gross profit surged by over 125% last year, while its revenue in mainland China reached more than $1.09 billion, 34% higher than 2023.
Yahoo
2 days ago
- Entertainment
- Yahoo
Rare Labubu sells for more than $150,000 at auction
A rare, first-generation Labubu figure has sold for $150,000 in Beijing at an auction held exclusively for the toys that have taken the world by storm. The 131-centimeter (51-inch) mint green figurine with a gremlin-like appearance, sharp teeth and puckish grin went for 1.08 million yuan ($150,325) at the Yongle International Auction house that normally specializes in selling jewelry and modern art. 'Congratulations to the online buyer on collecting the world's only such one,' said the auctioneer at an exhibition center in downtown Beijing on Tuesday afternoon. Labubus are currently the trendiest plush toys on the planet, created by Hong Kong-born illustrator Kasing Lung and retailed by the Chinese toy giant Pop Mart. In recent months, the bunny-bodied, elf-faced creatures — equal parts grotesque and adorable — have soared in popularity, sparking buying frenzies around the world, and in some cases, brawls among fans outside shops selling them. Even in China, where Pop Mart is based and most of its toys are made, people are struggling to get their hands on Labubus. A total of 48 Labubus were auctioned at the special event, billed as the 'World's First' auction of first generation collectible Labubus. A brown, 160-centimeter (63-inch) Labubu figure, sold for $114,086, the second highest hammer price at the event. The company said only 15 such figures exist around the world. Other figures went for more than $1,000 each. 'As a trendy toy in China, Labubu is now becoming a global artwork as it has truly sparked a craze around the world,' Zhao Xu, the founder of Yongle Auction, told state-owned outlet The Beijing News. Zhao said the company plans to hold monthly livestream auctions for Labubu and other trendy artworks. A pair of Minions-like Labubus sold at auction for 10,000 yuan ($1,391). Buyers at the auction also had to pay an additional 15% brokerage fee on top of the hammer prices. And it's not rare to see a price inflation of Labubus due to the crazy demand in China. For instance, a blind box from the latest Labubu 3.0 series, originally priced at around $81, has been selling for up to $278 on the second-hand market, state-owned outlet Cover News reported. Labubu's viral popularity has been a booster for Pop Mart. Annual results show that the Chinese company's global gross profit surged by over 125% last year, while its revenue in mainland China reached more than $1.09 billion, 34% higher than 2023.
CNN
2 days ago
- Entertainment
- CNN
Rare Labubu sells for more than $150,000 at auction
A rare, first-generation Labubu figure has sold for $150,000 in Beijing at an auction held exclusively for the toys that have taken the world by storm. The 131-centimeter (51-inch) mint green figurine with a gremlin-like appearance, sharp teeth and puckish grin went for 1.08 million yuan ($150,325) at the Yongle International Auction house that normally specializes in selling jewelry and modern art. 'Congratulations to the online buyer on collecting the world's only such one,' said the auctioneer at an exhibition center in downtown Beijing on Tuesday afternoon. Labubus are currently the trendiest plush toys on the planet, created by Hong Kong-born illustrator Kasing Lung and retailed by the Chinese toy giant Pop Mart. In recent months, the bunny-bodied, elf-faced creatures — equal parts grotesque and adorable — have soared in popularity, sparking buying frenzies around the world, and in some cases, brawls among fans outside shops selling them. Even in China, where Pop Mart is based and most of its toys are made, people are struggling to get their hands on Labubus. A total of 48 Labubus were auctioned at the special event, billed as the 'World's First' auction of first generation collectible Labubus. A brown, 160-centimeter (63-inch) Labubu figure, sold for $114,086, the second highest hammer price at the event. The company said only 15 such figures exist around the world. Other figures went for more than $1,000 each. 'As a trendy toy in China, Labubu is now becoming a global artwork as it has truly sparked a craze around the world,' Zhao Xu, the founder of Yongle Auction, told state-owned outlet The Beijing News. Zhao said the company plans to hold monthly livestream auctions for Labubu and other trendy artworks. A pair of Minions-like Labubus sold at auction for 10,000 yuan ($1,391). Buyers at the auction also had to pay an additional 15% brokerage fee on top of the hammer prices. And it's not rare to see a price inflation of Labubus due to the crazy demand in China. For instance, a blind box from the latest Labubu 3.0 series, originally priced at around $81, has been selling for up to $278 on the second-hand market, state-owned outlet Cover News reported. Labubu's viral popularity has been a booster for Pop Mart. Annual results show that the Chinese company's global gross profit surged by over 125% last year, while its revenue in mainland China reached more than $1.09 billion, 34% higher than 2023.
