What Fine Art Piece Does Everyone Want at Art Basel? Labubu, Of Course
Basel-blue Labubu, spirit level in hand — the 100-piece Art Basel 2025 exclusive. | Courtesy Art Basel
⏰ WED, Jun 18, 2025 @ 12 PM PST
🐟 Published from Seattle, WA, USA
🔨 Built by Chase Burns Broderick
The everyday Labubu headline—then the real story
A nine-toothed gremlin keeps breaking the internet this year. Every news cycle, in every place, produces the same beat: “Labubu sold out again; celebrities love it; why is everyone obsessed?”
But two deeper threads are now colliding:
Flipping chaos is reshaping retail strategy. Pop Mart has suspended in-store Labubu sales in South Korea after doing the same in the UK because of feuds, many starting from scalpers attempting to clear shelves in minutes.
A bona-fide fine-art market is forming. Last week a mint-green, life-size Labubu hammered for ¥1.08 million / US $150K at Yongle International Auction in Beijing—the line’s highest price yet.
Put simply, 2025’s question isn’t “Is Labubu popular?” It’s “What is Pop Mart really worth—from stock ticker to auction block?”
Flipping goes premium: Art Basel’s 100-piece sell-out
“The first thing to sell out at Art Basel this year was not a gallery stand—it was a Labubu.” — The Art Newspaper
Basel issued exactly 100 spirit-level-wielding, Basel-blue Labubus at CHF 200 ($245 USD) each. All were gone within minutes of the shop doors opening, reports Artsy.
“Roughly half of the figurines were released when the shop opened on Monday, June 16th, and quickly sold out. The remaining stock was released during Art Basel’s first VIP day on June 17th, and “Is there anyone here who does NOT want a Labubu?” shouted a staff member to the growing line outside the store. (Only a few raised their hands.)” — Artsy
By early afternoon, an attendee spotted Chinese resale apps listing the figure at ≈€1,500—a 7× jump and counting.
Staff tried limiting buyers and splitting the drop across days. Still chaos; still sell-out—someone yelled they’d sell it for $5,000 cash.
Why it matters: rapid arbitrage at an elite fair signals investor-grade interest, not just fandom.
Auction records & the birth of “blue-chip” Labubu
The ¥1.08 million Yongle hammer price wasn’t a one-off stunt; it capped a 48-lot sale devoted entirely to Labubu variants. Over 1,000 remote bidders piled in.
A secondary market once dominated by sneaker-style flips is edging into Sotheby’s territory—echoing the trajectory of Bearbrick and early KAWS.
Bottom line for collectors & investors
If you scored the Basel blue for retail, congratulations—you’re sitting on an asset that already trades like small-cap equity.
