The auction, held on June 10 by Yongle International Auction, a specialist in modern art and high-end jewelry, was the first event in China dedicated to Labubu.
A total of 48 works were auctioned, attracting about 200 live attendees and more than 1,000 collectors bidding via Yongle's mobile app. All products started at a price of 0, and the total value collected was up to 518,952 USD (about 13.5 billion VND).
The 131cm tall mint green Labubu statue, believed to be the only one in the world , set a record when it was priced at $150,270 (about VND 3.9 billion) after many rounds of bidding.
Mr. Zhao Xu - director of Yongle Auction House - commented that the statue could increase in price in the future. "This price is definitely a world record for a Labubu statue," he said.
The Labubu phenomenon has attracted global attention. Labubu is a rabbit-like character with a mischievous smile created by Hong Kong-based artist Kasing Lung about 10 years ago. Labubu is produced by the toy brand Pop Mart, based in Beijing, China.
In 2024, Labubu brought in more than $419 million, surpassing every other IP in the company’s portfolio. Pop Mart’s revenue in China reached $1.09 billion, up 34% from the previous year. Globally, Pop Mart’s profits increased 125%, largely due to the Labubu craze.
Source: https://baophapluat.vn/tuong-labubu-duoc-ban-voi-gia-hon-150000-usd-tuong-duong-36-ty-dong-post552032.html
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