This life-sized Labubu got auctioned at a whopping price in China

A life-sized "Labubu" was sold at an whopping amount of $150,275.51 (1.08 million yuan) auction house in Beijing, China, on Tuesday, June 10, and marked a new record for the “blind box” toy, as reported by a news agency.

The giant-size Labubu in China had a great deal!

After more than 2000 people placed their bids through Yongle's mobile app, and 200 people attended the event in person, the deal was closed at the Yongle International Auction in Beijing, according to the report.

One of the auction bidders, Du, said that she planned to spend a maximum of 20,000 yuan on the toy. However, she had to walk out empty-handed after the price jumped to over $150,000.

Du told the news agency, “My child likes it, so every time when Labubu released new products, we buy one or two items. It is hard to explain its popularity, but it must have moved this generation.”

How big was this life-sized Labubu toy?

According to the report, the toy was a one-of-one 4.3 feet (131 cm) tall Labubu figure in “mint green” colour, and was sold as the highest crossing item in the auction house on Tuesday.

This toy was made by a Hong Kong-based artist and illustrator named Kasing Lung nearly a decade ago. Later, in 2019, the artist agreed to let Pop Mart sell these figurines.

Pop Mart, a Chinese toymaker, markets collectable figurines. They started selling these items in "blind boxes", which would pose as a surprise for the buyers, who would not know exactly what design they would receive until they open the packaging. The Labubu blind box toys that are sold in Pop Mart's stores cost around 50 yuan, according to the agency report.

The Labubu figurine rose to popularity after top social media celebrities like K-Pop group Blackpink's Lisa, British footballer David Beckham, Dua Lipa, Janhvi Kapoor and many celebs were spotted with the same.

For more updates, join/follow our WhatsApp, Telegram and YouTube channels.