Labubu Madness: From Blind Box to Auction Block

The Beijing auction scene witnessed an unprecedented event as a human-sized Labubu figure was sold for a staggering 1.08 million yuan, marking a new era for "blind box" toys. Hosted by Yongle International Auction, it was the first-ever auction dedicated to the collectible Labubu figurine.

This landmark event featured 48 lots and attracted over a thousand online bidders and 200 in-person attendees. The auction's focal point, a mint green, 131 cm tall Labubu figure, soared to a record price, highlighting its unique global rarity.

Created by Hong Kong artist Kasing Lung, Labubu's popularity has been propelled by endorsements from celebrities like Lisa of Blackpink and David Beckham, solidifying its status as a sought-after collectible in the toy market.

(With inputs from agencies.)