In the dynamic realm of designer toys, Labubu—conceived by Hong Kong artist Kasing Lung and now under Pop Mart’s umbrella—has evolved from a niche character to a global cultural phenomenon. Among its myriad iterations, certain Labubu pieces have achieved eye - watering prices, captivating collectors and art enthusiasts alike.
The current crown jewel of Labubu collectibles is a 131 - centimeter mint - green PVC sculpture. Sold for 1.08 million yuan (with a total transaction price of 1.242 million yuan including commission) at Beijing’s Yongle International Auction on June 10, 2025, this piece is inscribed as "the only one in the world." As an inaugural - generation collectible, it holds the highest auction record for
Labubu globally, elevating the character from toy to high - value art object. Its sale sent shockwaves through the designer toy community, solidifying Labubu’s status as a coveted investment.
Hot on its heels is a 160 - centimeter brown Labubu from the same initial series, which fetched 820,000 yuan (943,000 yuan with commission) at the same auction. Both pieces set a new benchmark for Labubu’s market value, driven by their rarity and historical significance.
The sky - high prices of these inaugural Labubus stem from multiple factors:
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Rarity and Historical Weight: As the first - generation creations, they represent the origin of Labubu’s artistic journey, carrying unique cultural and historical value.
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Iconic "Ugly - Cute" Aesthetic: Labubu’s design—blending mischievous charm with edgy features—resonates deeply with collectors seeking individuality. Its visual impact defies mainstream cuteness, appealing to those who value unconventional artistry.
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Cultural and Market Momentum: Fueled by social media frenzy and celebrity endorsements (think Blackpink’s Lisa and Rihanna), Labubu’s global popularity has transformed it into a symbol of contemporary youth culture, driving demand and valuation.
Beyond the auction - breaking sculptures, other Labubu pieces command steep prices:
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"Zimomo x Labubu: I Found You" Plush: Originally priced at £164, this limited edition now trades for over £1,000 on UK resale markets.
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Artist Prototypes and Custom Works: Early resin prototypes or one - off customizations by Kasing Lung often fetch thousands of dollars, coveted for their exclusivity.
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Artwork Crossovers: Kasing Lung’s Labubu - inspired paintings have also made waves at auctions. For example, the acrylic piece Excited Plastic sold for over HK$780,000 (around $100,000) at Christie’s in March 2025.
More: The Rarest Labubu Collectibles: A Guide to Ultra - Exclusive Art Toys
The rise of high - value Labubu collectibles signals a broader shift in contemporary culture: designer toys are no longer mere playthings but have become legitimate art forms. They carry emotional resonance, cultural symbolism, and investment potential, blurring the line between collectibles and fine art. As Labubu continues to captivate global audiences, its journey from artist’s imagination to million - yuan auction item exemplifies how creativity, rarity, and cultural momentum can transform a character into a legendary symbol of modern art and commerce.
