两只LABUBU涨到190万元！5年前“旧主”现身：当年10多万元买，30万多万元卖出

Core Viewpoint - The recent auction of LABUBU collectibles has highlighted the significant price appreciation of these items, raising questions about market speculation and the sustainability of such valuations [1][3][10]. Group 1: Auction Results and Market Dynamics - The auction on June 10 featured 48 LABUBU pieces, achieving a total sales amount of 3.73 million yuan, with individual items fetching prices as high as 1.08 million yuan for the mint green LABUBU and 820,000 yuan for the brown variant [1][3]. - The price of the two LABUBU figures, which were originally purchased for just over 100,000 yuan in 2020, skyrocketed to 1.9 million yuan at the auction, indicating a dramatic increase in perceived value [3][8]. Group 2: Collector Insights and Market Sentiment - A collector, referred to as Cheng Luo, expressed that the value of LABUBU is difficult to define, viewing it more as a toy than a traditional art piece, and attributing the price surge to market speculation and celebrity influence [5][10]. - Cheng Luo noted that the market for LABUBU collectibles has become increasingly volatile, with prices rising sharply, which may alienate genuine fans who appreciate the items for their artistic value rather than as investment vehicles [10][26]. Group 3: Future Outlook and Concerns - The current high prices of LABUBU collectibles may indicate that the market is nearing its peak, with concerns that inflated prices could deter new collectors and harm the community of genuine enthusiasts [22][26]. - The future value of LABUBU collectibles may depend on the recognition of their designer, Long Jiasheng, within the international art community, as well as potential collaborations with high-end brands [25][26].