From a Blind Box to Big Bucks as a Human-Sized Labubu Figure Sells for $150K

In the world of collectible toys, few figures have captured hearts and wallets like Labubu, the mischievous little creature from the creative mind of Hong Kong-based artist Kasing Lung. And now, Labubu has officially grown up—and cashed in.

At a recent sale hosted by Yongle International Auction in Beijing on June 10, a roughly 4'3" mint-green human-sized Labubu figure sold for an astonishing ¥1.08 million, roughly $150,275 USD. It was the top lot in a 200+ item auction dedicated entirely to Pop Mart figures, drawing over 1,000 online bidders and more than 200 in-person attendees.

So, what exactly is Labubu, and why all the fuss?

Labubu is a fanged, wide-eyed, elf-eared figure created by Belgian Chinese illustrator Kasing Lung. He rose to fame through Pop Mart, a Beijing-based company that has become a global powerhouse in the designer toy industry. Founded in 2010, Pop Mart specializes in art toys sold in blind boxes. The sealed packages hide which figure you’re getting, making each unboxing a surprise.

Pop Mart collaborates with well-known and emerging artists worldwide to create original characters like Labubu, MOLLY, SKULLPANDA, and DIMOO. The company has sparked a massive following in Asia and beyond, fueled by social media buzz, limited-edition releases, and pop-up shops that feel more like high-end fashion emporiums than toy stores.

That element of surprise, combined with impressive character designs, scarcity, and artist-driven storytelling, has helped Pop Mart build a cult-like following across Asia and, increasingly, the West. Labubu, one of the brand’s breakout stars, is equal parts creepy and cute, often styled in surreal costumes or fantasy themes.

While most Pop Mart figures retail for around $10–15 USD in stores, rare variants (called “secret” or “chase” figures) can skyrocket in value, sometimes hitting four or five figures on the resale market. But this human-sized Labubu, a limited edition release never sold at retail, marks a significant leap. It’s believed to be the first life-sized Labubu to go under the hammer and has now set a record for the brand.

Collectors say the appeal lies in more than rarity. “These toys are about emotion, imagination, and community,” said one fan at the auction. “They’re art for a new generation.”

This record-breaking sale confirms what many have suspected: designer toys aren’t just playthings but investment-grade collectibles. The rise of toy art has mirrored the trajectory of athletic shoes, streetwear, and NFTs: niche communities with passionate fanbases that turn these items into multimillion-dollar markets.

For collectors who are looking for the next big thing, Labubu and his friends may be the tip of the toy iceberg.

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