A Beijing auction house on Tuesday sold a human-sized Labubu figure for 1.08 million yuan (US$150,260), setting a new record for the “blind box” toy as it moves from craze to collectible.
The event held by Yongle International Auction, which traditionally specializes in modern art as well as jewelry, marked the first-ever auction dedicated to Labubu, toothy monster figurines that are mainly sold by Chinese toy company Pop Mart and have been at the center of a global frenzy for the past year.
The auction offered 48 lots for sale and was attended in person by about 200 people, while more than 1,000 bidders put down offers via Yongle’s mobile app, the auction house said.
Photo: AFP
The starting price for all the items was zero, while the lots sold for a combined 3.73 million yuan.
The highest grossing item, a mint green, 1.31m-tall Labubu figure, received several bids to sell for 1.08 million yuan.
The auctioneer said it was the only one available in the world.
A set of three Labubu sculptures, about 40cm tall and made of PVC material, sold for 510,000 yuan.
The set, from a series called “Three Wise Labubu,” was limited to a run of 120 sets in 2017 and another one sold for HK$203,200 (US$25,888) at Sotheby’s most recent auction in Hong Kong.
Labubu was created a decade ago by Hong Kong artist and illustrator Kasing Lung (龍家昇). In 2019, Lung agreed to let them be sold by Pop Mart, which markets collectable figurines often sold in “blind boxes.”
A buyer of a blind box toy does not know exactly what design they will receive until they open it.
The starting price for Labubu blind box toys sold in Pop Mart’s stores is about 50 yuan.
The character’s popularity skyrocketed after Lisa of the South Korean pop music group Blackpink was spotted with a Labubu, and praised the doll in interviews and online posts.
Many celebrities followed. In May, British soccer star David Beckham shared a photograph on Instagram of his Labubu attached to a bag.
IDENTITY: A sex extortion scandal involving Thai monks has deeply shaken public trust in the clergy, with 11 monks implicated in financial misconduct Reverence for the saffron-robed Buddhist monkhood is deeply woven into Thai society, but a sex extortion scandal has besmirched the clergy and left the devout questioning their faith. Thai police this week arrested a woman accused of bedding at least 11 monks in breach of their vows of celibacy, before blackmailing them with thousands of secretly taken photos of their trysts. The monks are said to have paid nearly US$12 million, funneled out of their monasteries, funded by donations from laypeople hoping to increase their merit and prospects for reincarnation. The scandal provoked outrage over hypocrisy in the monkhood, concern that their status
Trinidad and Tobago declared a new state of emergency on Friday after authorities accused a criminal network operating in prisons across the country of plotting to kill key government officials and attack public institutions. It is the second state of emergency to be declared in the twin-island republic in a matter of months. In December last year, authorities took similar action, citing concerns about gang violence. That state of emergency lasted until mid-April. Police said that smuggled cellphones enabled those involved in the plot to exchange encrypted messages. Months of intelligence gathering led investigators to believe the targets included senior police officers,
A disillusioned Japanese electorate feeling the economic pinch goes to the polls today, as a right-wing party promoting a “Japanese first” agenda gains popularity, with fears over foreigners becoming a major election issue. Birthed on YouTube during the COVID-19 pandemic, spreading conspiracy theories about vaccinations and a cabal of global elites, the Sanseito Party has widened its appeal ahead of today’s upper house vote — railing against immigration and dragging rhetoric that was once confined to Japan’s political fringes into the mainstream. Polls show the party might only secure 10 to 15 of the 125 seats up for grabs, but it is
FOREST SITE: A rescue helicopter spotted the burning fuselage of the plane in a forested area, with rescue personnel saying they saw no evidence of survivors A passenger plane carrying nearly 50 people crashed yesterday in a remote spot in Russia’s far eastern region of Amur, with no immediate signs of survivors, authorities said. The aircraft, a twin-propeller Antonov-24 operated by Angara Airlines, was headed to the town of Tynda from the city of Blagoveshchensk when it disappeared from radar at about 1pm. A rescue helicopter later spotted the burning fuselage of the plane on a forested mountain slope about 16km from Tynda. Videos published by Russian investigators showed what appeared to be columns of smoke billowing from the wreckage of the plane in a dense, forested area. Rescuers in