The 131-centimeter-tall sculpture was offered for sale by an auction house on June 10. The statue was the highest-grossing figure at the Yongle International Auction event, setting a new record for the "blind box" toy as it evolved from a trend to a collectible. Zhao Xu, director of Yongle Auction House, said the statue could still rise in value in the future. "This price is definitely a world record for a Labubu statue," he said.
Previously on May 30, a trio of Labubu sculptures, made of PVC material, was hammered for 203,200 HKD (231,993 USD) at Sotheby's Hong Kong auction. The product is called Three Wise Labubu Series: Don't Hear, Don't See, Don't Speak , created in 2017.
Labubu, created by Hong Kong artist Kasing Lung 10 years ago, initially had no buzz. After he collaborated with Pop Mart, the product created a "hard to find one" effect with art toy enthusiasts around the world. In 2024, Labubu brought in 3 billion yuan ($410 million) of the company's total revenue of 13.04 billion yuan ($1.8 billion). According to CNN , despite slowing US consumption and tariff tensions, Labubu's US sales have maintained growth this year.
In an analysis at the end of May, Teen Vogue magazine said that the Labubu "wave" formed in Asia and quickly spread internationally thanks to celebrities such as Lisa, Rihanna, Rosé, Dua Lipa, Huda Kattan, David Beckham, in which singer Lisa played an important role in creating fashion trends.
Explaining the Labubu craze, Princeton University professor Anne Cheng said it reflects Americans' long-standing love for Asian "kawaii" culture, dating back to the Hello Kitty era. "Kawaii" means cute in Japanese. From an aesthetic trend among Japanese youth, "kawaii" has become a popular cultural symbol, associated with cartoon characters such as Totoro and Doraemon.
Labubu's approach and promotion are also appropriate to the context, psychology, and consumer tastes. Experts call Pop Mart stuffed animals a "luxury within reach", quite different from designer bags or watches worth thousands of dollars. According to Ifeng Weekly, after about a year of being popular, Labubu is still sought after by users around the world, leading to a situation of "supply not meeting demand". In Vietnam, many artists such as Thanh Hang, Phuong Ly, Miss Ky Duyen, and content creators on social networks also share the hobby of collecting these art toys.
HA (according to VnE)Source: https://baohaiduong.vn/tuong-labubu-gia-gan-bon-ty-dong-413773.html
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