Life-Sized Labubu Doll Sells For More Than $150,000 In Record-Breaking Beijing Auction

What started as a simple doodle has now become a global phenomenon - case in point - Labubu dolls. The human-sized version of this toothy monster figurine has been sold for 1.08 million Yuan ($150,275.51) which is valued at more than ₹1.2 crore by a Beijing auction house. As per the reports by Reuters, this is a new "record for the 'blind box' toy as it moves from craze to collectibles." 

Labubu dolls are plush toys and figurines based on a character from the 2015 book series 'The Monsters by Hong Kong-born artist Kasing Lung. He sketched a tiny elf creature inspired by Nordic fairy tales, which soon became a pop sensation. It was made popular by Chinese toy maker Pop Mart International. 

The auction was hosted by Yongle International Auction, a company typically known for selling modern art and jewelry. This marked the first-ever auction dedicated entirely to Labubu.

While there were other items at the auction, the highlight of the event was a mint-green Labubu statue standing 131 cm tall (4.3 feet), which was sold for 1.08 million yuan after a series of competitive bids. A set of three 40 cm tall Labubu PVC sculptures, titled "Three Wise Labubu" were also sold at 510,000 yuan. 

While already a popular figurine, Labubu's fame surged when Lisa from the K-pop group Blackpink was seen with one and expressed her admiration publicly. Since then, other celebrities—including British football star David Beckham - have also joined the craze.

(With inputs from Reuters)