Human-sized Labubu doll sells for more than $150,000
Summary
A human-sized Labubu doll sold for over $150,000 at an auction in Beijing, setting a record for the most expensive toy of its kind. The Labubu dolls, created by Hong Kong artist Kasing Lung and sold by Pop Mart, have become popular due to celebrity endorsements and their appearance on social media.Key Facts
- A human-sized Labubu doll sold for 1.08 million yuan ($150,324) at a Beijing auction.
- The doll is 131 cm tall and became the most expensive toy of its kind.
- Labubu dolls were created by Hong Kong artist Kasing Lung about ten years ago.
- The dolls usually sell for about 50 yuan each.
- Forty-eight Labubu items were auctioned, raising a total of 3.37 million yuan.
- Celebrities like Rihanna, Dua Lipa, and David Beckham have featured the dolls, boosting their popularity.
- Pop Mart, the company selling these dolls, offers them in "blind boxes" where buyers don't know the design until unboxing.
- Pop Mart's revenue rose significantly due to the toys' popularity, and they have expanded to new countries.
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