Giant Labubu statue auctioned for nearly 4 billion VND

A Beijing auction house sold a near-life-size Labubu statue for 1.08 million yuan (nearly 4 billion VND) on June 10, setting a new record for the "blind bag" toy as it transitioned from a trend to a collectible.

The auction, organized by Yongle International Auction, a specialist in modern art and jewellery, marked the first auction dedicated to Labubu, which was mainly sold by Chinese toy company Pop Mart, and has been trending and making headlines around the world over the past year.

131cm tall Labubu statue sells for nearly 4 billion VND

PHOTO: REUTERS

The auction offered 48 lots with about 200 people attending in person and more than 1,000 bidding via the Yongle mobile app, the auction house said.

The starting price for the items started from zero and eventually sold for a total of 3.73 million yuan (13.5 billion VND).

The highest-grossing item was a 131cm tall blue Labubu statue, which received many bids and was eventually sold for 1.08 million yuan (nearly 4 billion VND). The auction house representative said this is the only statue in the world.

A set of three Labubu sculptures, about 40cm tall and made of PVC material, sold for 510,000 yuan (VND 1.8 billion). This set of three, called Three Wise Labubu , was produced in a limited edition of only 120 sets in 2017. Another set of three sold for 203,200 Hong Kong dollars (VND 650 million) at Sotheby's most recent auction in Hong Kong.

Labubu is becoming more and more popular in the world

PHOTO: REUTERS

Labubu was created a decade ago by Hong Kong (China) artist Kasing Lung. In 2019, Lung agreed to let Pop Mart sell them, a Chinese toy company that specializes in marketing collectible figurines that are often sold in “blind bags.”

Buyers of the “blind bag” toys don’t know exactly what design they’ll get until they open the packaging. The starting price for Labubu “blind bag” toys sold at Pop Mart stores is around 50 yuan (US$7.80).

Many celebrities are interested in Labubu

Labubu's popularity skyrocketed after singer Lisa of Korean pop group Blackpink was spotted with a Labubu and praised the doll in interviews and online posts.

Labubu attracts public attention

PHOTO: REUTERS

In May 2025, English football star David Beckham shared a photo on Instagram of his Labubu doll attached to a bag.

A restaurant owner who participated in the auction on Yongle, who only revealed her last name as Du, said she planned to spend a maximum of 20,000 yuan (72 million VND) to buy the "giant" Labubu but left empty-handed because the final price was too high.

"My child loves it so much that every time Labubu comes out with a new model, we buy one or two. It's hard to explain its popularity but it must have moved this generation," Ms Du told Reuters.

Source: https://thanhnien.vn/tuong-labubu-kich-thuoc-khung-ban-dau-gia-gan-4-ti-dong-185250611081611969.htm