Labubu Toys Surge in Value, Echoing Beanie Baby Craze

The value of Labubu toys, particularly the limited edition Labubu x Vans Old Skool Vinyl Plush Doll, has skyrocketed, drawing comparisons to the iconic Beanie Baby phenomenon of the 1990s. Currently listed on eBay, bids for the 2023 version of the doll have reached nearly $9,000, with expectations that the final sale price could exceed $10,000.

Labubu, a distinctive character created by Hong Kong artist Kasing Lung, originated in the book series The Monsters Trilogy, which draws inspiration from Nordic folklore. The character gained significant popularity after teaming up with toy manufacturer Pop Mart in 2019, attracting the attention of numerous celebrities, including Dua Lipa, Lisa from Blackpink, and Rihanna. Social media, particularly TikTok, has amplified Labubu’s appeal through engaging unboxing videos, further driving sales.

Typically priced between $20 and $30, rare Labubu collectibles have recently sold for astonishing sums. For instance, at a Sotheby’s auction, a piece titled “Three Wise Labubu” fetched $28,300. Another collaboration, the Sacai x Seventeen x Labubu edition, commanded over $31,000. In June, a standard-sized Labubu doll sold for an impressive $150,000.

Dr. Lori Verderame, an expert in collectible items, notes that the current trend surrounding Labubu mirrors the earlier craze for Beanie Babies. She suggests that Labubu’s artistic roots and literary origins may sustain interest among collectors and fans, keeping demand high.

The surge in popularity has led to bustling scenes in Pop Mart stores, with some locations in the UK experiencing such high traffic that they were compelled to temporarily close. Furthermore, Chinese customs have been overwhelmed by the volume of Labubu shipments. Since launching in 2020, Pop Mart has reported remarkable growth, projecting a staggering 350% increase in profits and a 200% increase in income in the first half of 2025. Their revenue for 2024 was approximately $1.8 billion.

Wang Ning, the creator of Labubu, has emerged as one of the wealthiest individuals in China, with an estimated net worth of $21 billion. As the eBay auction for the Labubu x Vans doll nears its conclusion, many collectors are keenly watching how high the bids will climb, uncertain of where this latest toy trend will lead.