Record-breaking price at China auction: Labubu doll sells for an astounding $150,000, fueling ongoing demand.
The Exceptionally Rare Mint Green Labubu Breaks Auction Records
In an extraordinary display of collector's fervor, a one-of-a-kind mint green Labubu sold for a staggering 1.08 million yuan ($150,000) at a recent auction in Beijing. This monster character, brainchild of Hong Kong-born artist Kasing Lung, has certainly captured the hearts of many, as evidenced by the popular demand for these collectibles.
The auction, which took place at Yongle Auction house, also featured 47 other Labubu items, including a limited-edition brown Labubu that fetched 820,000 yuan. The total value of the sales reached an impressive 3.73 million yuan according to local media reports. This auction marked the world's first sale of Labubu artwork, attracting thousands of eager buyers both on-site and online.
Pop Mart International Group Ltd., the Beijing-based creators of these toothy, beloved dolls, have witnessed a surge in their shares by more than 180% this year. Celebrities like Rihanna and BlackPink's Lisa have been seen with these coveted toys, fueling the craze among fans who are willing to endure long queues and pay inflated prices for them.
Interestingly, the youngest registered buyer at this auction was a mere nine-month-old infant, whose family purchased a co-branded version of the Labubu doll for 32,000 yuan in the baby's name.
Pop Mart's overseas growth momentum has caught the attention of several brokerages, leading to price target increases. Deutsche Bank boosted its target for Pop Mart shares by 52% to HK$303 ($38.6), while Morgan Stanley lifted its target to HK$302 from HK$224, suggesting that Pop Mart should be valued at a similar level to Sanrio Co. and Walt Disney Co.
The MONSTERS blind-box series, centering around Labubu, generated over 3 billion yuan in sales for Pop Mart last year, accounting for almost one-fourth of the company's revenue. As of mid-June 2025, Pop Mart International Group Ltd. boasts a market capitalization approaching HK$300 billion, with its shares trading near record highs[1]. The average 12-month share price target set by Wall Street analysts is HK$187.34, based on recent forecasts from eight analysts[2].
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Sources:
[1] Pop Mart’s robust global expansion and strong IP strategy (including Labubu dolls) remain key drivers of its financial performance and market confidence. Retrieved from [URL]
[2] As of mid-June 2025, Pop Mart’s average 12-month share price target set by Wall Street analysts is HK$187.34, based on recent forecasts from eight analysts. Retrieved from [URL]
The astronomical success of the Labubu auction in Beijing highlights the growing interest in both the entertainment industry and pop-culture collectibles, as evidenced by the exorbitant prices fetched by these unusual dolls. Meanwhile, the surge in Pop Mart's shares, fueled by celebrity endorsements and a strong IP strategy, underscores the potential of the business news in these sectors.
