Labubu figurine is displayed before an auction in Beijing
Photo: Tingshu Wang/REUTERS
On June 10, a four-foot-tall mint green Labubu was sold for $170,000 during the world’s first Labubu auction. If that sentence sounded like gibberish to you, then let’s catch you up to speed: Labubus — aka tiny bunny-shaped elves — are $30 collectible toys made by Pop Mart that have become increasingly inescapable. They’ve been seen hanging from Rihanna’s Louis Vuitton bag and NBA player Dillon Brooks’ belt loop. They’re on Lisa from Blackpink’s Instagram and protesting ICE in downtown Los Angeles and dressed in Gucci outfits. They’re so in demand, even fakes (called Lafufus) are infiltrating the market. It’s baffling, sure, but it seems like the trinket girlies are onto something.
Held at the Yongle Auction House in Beijing, China, the Labubu auction sold all 48 lots for a total of 3.73 million yuan, or about $520,000, according to NBC. The highest price tag belonged to the mint green monstrosity mentioned above, and the second most expensive Labubu sold was a five-foot-tall (!) brown plastic elf that went for over $130,000. The third priciest lot was a set of three Labubus called the “Three Wise Labubu,” with one doll crossing its arms, another making a peekaboo gesture, and the third covering its mouth. It sold for more than $80,000. I hope whoever is buying these has a good place to put them.
Are they creepy? Are they cute? Are they worth $170,000? I’ll leave that up to you.
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Would You Pay $170,000 For a Labubu?