A one-of-a-kind Labubu doll has sold for a staggering $150,000 at auction.
The collectible dolls, beloved for their odd but cute look, have become a worldwide sensation with a loyal cult following.
The sharp-toothed doll that's over four feet tall was a hot item at the Yongle International Auction in Beijing this month.
Most of the plush, furry dolls, which have big teeth and elf-like ears, are pocket-sized and cost around $30.
The auction was the first to be dedicated to Labubu-brand products, which are made by Chinese toy company Pop Mart.
Nearly 1,000 participants were bidding online or in person for at least one of 48 lots that were up for sale.
By the end of the auction, all of the Labubu collectibles were sold, racking in more than $500,000 in sales.
The auction house is now planning to hold more events dedicated to this toy brand due to the 'growing momentum of pop art in the auction market.'
These trendy dolls have taken the world by storm and have featured as arm candy for A-listers like Rihanna, Dua Lipa, and Blackpink member Lisa.
The fan-favorite toys were created by Hong Kong-native Kasing Lung in 2015. Lung created Labubu after being inspired by a character in a picture book series full of magical creatures.
Pop Mart describes Labubu as a 'small monster with high, pointed ears and serrated teeth' that is 'kind-hearted and always wants to help, but often accidentally achieves the opposite.'
What started out as a $30 toy has since become a product that has been spotted on resale websites for thousands of dollars and has even featured as an alternative bouquet toss at a wedding.
Besides the mint-green Labubu figurine, the Beijing auction sold a similar-sized doll for over $100,000, that toy being one of 15 in the world.
Other items in the Labubu collection sold for over $1,000 each.
Each buyer was required to pay an additional 15 percent brokerage fee along with the winning bid amounts.
'As a trendy toy in China, Labubu is now becoming a global artwork as it has truly sparked a craze around the world,' Zhao Xu, the founder of Yongle Auction, told state-owned outlet The Beijing News via CNN.
Labubus are plush, furry little dolls that are described as 'elvish creatures,' with big teeth and elf-like ears
Labubus are now being seen as a status symbol, with wealthy people hanging them off their pricey Hermès bags
A person holds up Labubu dolls in a store in Beijing this month
Blackpink member Lisa is one of many celebrities to have shown of Labubu dolls on social media
Because of these dolls, Pop Mart is taking over the toy market with a yeh$46.1 million marketing cap.
The company finished 2024 with $1.8 billion in revenue, with $700 million coming from non-mainland shoppers, according to Fortune.
'We've seen the community play a huge role in fueling this movement -- whether it's fans sharing display shelves, TikTok videos, or styling their bag charms,' said Emily Brough, Pop Mart's head of IP licensing for the Americas.'
'We're seeing surging interest from Gen Z and millennials, particularly those drawn to fashion, art, and nostalgia-infused collectibles.'
With the Labubu phenomenon rising, the company, which currently has over 500 stores, is looking to keep move forward.
'In the US, we've had families queuing at 6:00 am for store openings and first-time collectors grabbing blind boxes alongside seasoned fans,' Brough said.
'With a goal of 50 US store openings this year, Pop Mart's community is only growing.'