Newscasts - Labubu figurine sells for over $150,000 at Beijing auction

Pop Mart International

10/06/2025 15:29

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Source: 'Reuters - General news videos'

Description: A Beijing auction house sold a human-sized Labubu figurine for $150,275.51 (1.08 million yuan) on Tuesday (June 10), setting a new record for the "blind box" toy as it moves from craze to collectible.

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Video Transcript:

It sold for CNY1.08 million, which I believe is a record, definitely a world record for a Labubu sculpture. But I think the price will go even higher in the future, because it truly is a non-standard art piece. Collectors would have thought long and hard before offering such a price for this work of art.

I think Pop Mart has been around for quite a long time, and it has built a solid foundation, and its market cap is about the same as Sanrio now. I think, and it's about to surpass them. I think it should be able to retain its value if it keeps developing new products. And Labubu has always been there before, and not just recently. It's just that it became popular recently.

I think the first thing is that it has a little bit of playfulness and quirkiness, a little bit of rebelliousness, this kind of intellectual property image. Secondly, it's co-branded with major intellectual properties such as Mario and various countries.