• A human-sized Labubu doll sold for over 1.08 million yuan (US$150,000) at a Beijing auction.
• The auction attracted over 1,000 bidders and generated total sales of 3.73 million yuan.
• Celebrity endorsements have significantly boosted Labubu's popularity globally.

A human-sized Labubu doll was sold for a staggering 1.08 million yuan (US$150,324) during an auction at Yongle International Auction in Beijing, establishing a new record for the collectible toy. The event, a first of its kind focusing on Labubu, featured a total of 48 items and drew approximately 200 attendees, alongside over 1,000 remote bidders, contributing to total sales of around 3.73 million yuan. The popularity of these dolls skyrocketed over recent years, particularly following notable endorsements from celebrities like Lisa of Blackpink, which has greatly influenced their market value, according to South China Morning Post, Bangkok Post, and India Times.

The standout piece, a mint-green, 131 cm tall Labubu, is notable for being the only one of its kind. Labubu dolls, known for their quirky design created by Hong Kong artist Kasing Lung and produced by Pop Mart, typically retail for around 50 yuan but have seen prices surge due to their unique collectible status. The auction itself was streamed online, bringing in a virtual audience and further solidifying Labubu's cultural significance, as noted by Channel News Asia and BBC.

The auction's success illustrates the intense demand for Labubu dolls, driven significantly by their association with pop culture and social media trends. They have inspired a viral sensation on platforms like TikTok and have sparked interest from diverse buyer demographics, including younger collectors. Various media outlets, including India Times and South China Morning Post, highlight the increasing presence of Labubu in mainstream culture and its potential for sustained growth in the collectible market.