The Enigmatic Charm of Labubu: Origins, Rarity, and Rising Value

Labubu — that odd little elf with a serrated-tooth grin, fluffy suit and mischievous stare — feels like the sort of character that stepped straight out of a picture book and into Instagram. But Labubu’s rise from art-school sketch to global collectible explains a lot about why some of these dolls now command eye-watering prices: it’s a mix of story, design, scarcity, celebrity, brand strategy and pure collector psychology.

Where Labubu came from

Labubu began as a creation of Hong Kong-born artist Kasing Lung, who introduced the character as part of his picture-book series The Monsters. The original artworks leaned on a blend of children’s imagination and Northern/folk storybook influences — which is why Labubu looks both adorable and a little uncanny. The small-scale toy incarnations appeared in 2015, and the character found a much wider audience when the Chinese collectible-toy retailer Pop Mart began producing and marketing Labubu figures in commercial runs. 

The design that hooks you

Part of Labubu’s appeal is purely visual: the design balances “cute” and “odd” in a way that’s very current. Big glossy eyes, a tiny snub nose, oversized ears and a toothy smile create a character that’s immediately personable yet distinctive — easy to photograph, style, and turn into an accessory (keychains, bag charms) or display piece. The original artist’s backstory and concept art also give the dolls narrative depth, which helps fans feel they’re buying a piece of a larger world rather than a generic plush.

Pop Mart, the blind-box model, and manufactured scarcity

Pop Mart didn’t just manufacture Labubu — it marketed it in a way that creates demand. Many Labubu figures are sold in blind-box formats (you buy a sealed box without knowing which colour or variant you’ll get), and the company frequently issues limited edition runs, special collaborations, and regional exclusives. That deliberate uncertainty (and occasional rarity rates for “chase” figures) generates excitement, repeat purchases, and a secondary market where collectors trade duplicates and rare variants. This business model turns a common toy into a game of chance — and premium for the rare outcomes. 

Celebrity spotlight and cultural momentum

The moment a high-profile figure is photographed with your product, the value proposition shifts. When celebrities and influencers started showing off Labubu charms and figures in 2024–2025, mainstream awareness surged. That aura of desirability — especially when paired with limited drops — pushes average buyers into competitive buying behavior, sometimes as status symbols and sometimes as short-term investments. 

Resale prices, auctions and investment narratives

In the secondary market, rare Labubu toys have sold for amounts far above retail. While a standard blind-box figure often retails in the low tens of dollars, large or limited editions, “mega” sculptures, or auctioned one-offs have traded for thousands — in extreme reported cases, even six-figure sums at specialty auctions. Those headline sales shift public perception: if “someone sold one for $X,” many assume the category has investment potential, and that belief alone raises prices. 

Why some Labubu dolls are expensive — a concise list

• Scarcity & limited editions: intentional low runs and chase variants create rarity. 
• Blind-box psychology: the thrill of the unknown keeps collectors buying and drives secondary demand. 
• Branding & collaborations: Pop Mart’s partnerships, store drops and designer collabs add premium cachet. 
• Celebrity and social proof: influencer visibility amplifies desirability. 
• Material and scale: larger vinyl/plush editions or finely made display pieces cost more to produce and ship.
• Collector investment behavior: speculative buying and auction mania push rare items into high price brackets. 
• Caveats: counterfeits and safety

High demand attracts knockoffs. Regulators in several markets have warned about counterfeit Labubu toys that lack safety certifications and may pose choking or toxic-material risks. That makes buying from trusted retailers important — and also inflates prices for guaranteed authentic pieces (authenticity stickers, QR codes, sealed boxes). 

The emotional price

Finally, remember that part of what people are paying for is emotion. Collectors talk about “completing a set,” the joy of unboxing, the social status of owning a hard-to-find variant, and the connection to a character with a backstory. Those intangible values are as real a driver of price as manufacturing cost.

In short, Labubu’s journey from an illustrator’s concept to an international collectible shows how great design, smart branding, scarcity mechanics and celebrity attention can turn a modest toy into an object of high demand — and, sometimes, surprising value. If you’re considering buying one, decide whether you want it because you love the character, or because you hope it will be worth more tomorrow — the two are different bets.

Cheerio!