调查丨拍出51万元的LABUBU，12天后同款落槌遭“腰斩” 潮玩拍卖也会有“郁金香泡沫”吗？

Core Insights - The article discusses the rising popularity and auction prices of LABUBU collectibles, highlighting a trend of increasing auction records and significant sales figures in the collectible market [1][6][16] - Concerns about "overpricing" and market volatility are raised, with examples of drastic price fluctuations for the same items within short time frames [1][15][22] - The phenomenon is compared to historical market bubbles, questioning whether the current excitement is sustainable or indicative of a speculative bubble [5][24] Auction Performance - LABUBU collectibles have achieved record auction prices, with a mint green LABUBU selling for 1.08 million yuan and another item fetching 759,000 yuan, contributing to a total auction revenue exceeding 8.93 million yuan [1][6][12] - The auction on June 22 featured 69 items, predominantly LABUBU collectibles, indicating a growing interest and market presence [5][6] - The average price of items sold in the two auctions approached 76,000 yuan, comparable to luxury goods [16] Market Dynamics - The article notes a significant disparity in auction prices compared to retail prices, with one LABUBU item selling for 43,000 yuan at auction while available for only 14,000 yuan on e-commerce platforms, reflecting a more than 200% markup [15][24] - The auction market is characterized by intense bidding, with collectors showing high engagement and emotional investment in the items [12][19] - The audience for LABUBU auctions includes traditional collectors, younger investors, and fans, each with different motivations for purchasing [19][20] Future Outlook - Upcoming auctions are anticipated, with major auction houses like Christie's showing interest in the collectible market, indicating potential growth and further market validation [20][25] - Experts suggest that the sustainability of the LABUBU market will depend on the establishment of a robust secondary market and a diverse collector base [20][25] - Concerns about the potential for market overheating and the need for a return to the intrinsic value of collectibles are emphasized, suggesting a cautious approach to future investments [24][25]