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"What's the LABUBU market price for this one?"
I get this DM at least five times a day on the PopNya Instagram. Sometimes it's a picture of a common figure from the Monsters Camping series. Sometimes it's a shaky photo of the legendary Soymilk from the Macaron set. The answer is never simple.
The short answer is: whatever someone is willing to pay for it.
The long, and much more useful, answer is what I'm about to lay out for you. As someone who buys, sells, and trades these little monsters every single day, I've seen it all. I've seen a figure go from $17 retail to $200 overnight and then crash back to $50 a month later. Understanding LABUBU value isn't about checking a price guide; it's about understanding a fast-moving, hype-driven, and utterly fascinating subculture.
So, let's get into the real mechanics of what makes one vinyl monster worth the price of a nice dinner out, while another is worth the price of a small car.
The Baseline vs. The Aftermarket: A Tale of Two Prices
First things first, let's establish ground zero. A standard, single blind box of a new LABUBU series from an official retailer like Pop Mart costs about $15 to $17 in the United States. A full case of 12 boxes will run you somewhere around $180-$200. This is the Manufacturer's Suggested Retail Price (MSRP).
This is also the last time the price will be that simple.
Once that box is opened, or once a series sells out, we enter the Wild West: the secondary market. This is where the concepts of `labubu value` and `labubu market price` truly come alive.
Let me give you a concrete example that I lived through in my shop. The LABUBU Macarons series launched in early 2024. The hype was big, but what happened next was unprecedented. Lisa from BLACKPINK posted a video of herself unboxing a case.
The result? Absolute chaos.
The "Soymilk" chase figure, which I had seen pre-orders for at around $150, suddenly had asking prices of $300, $400, even $500 on some platforms. The regular "Lychee" figure, not even the main chase, was fetching $80-$100. I personally sold a Soymilk I pulled for a customer for $220 about three days after that video dropped, and frankly, I probably could have asked for more.
This is the most extreme example, but it perfectly illustrates the gap between retail cost and perceived value. The vinyl inside the box didn't change. The art didn't change. But its cultural context, and therefore its price, was transformed overnight.
My Four Pillars of LABUBU Value
After years of watching these trends, I've developed my own framework for assessing a LABUBU's potential value. It's not a science, but it's the mental checklist I run through when a customer asks me, "Is this one a good investment?"
Pillar 1: The Rarity Equation** This is the most obvious factor, but it has layers. Pop Mart is very transparent about this. Each figure in a series has a rarity. * Regulars: These are the standard 12 figures in a set. If you buy a sealed case, you are guaranteed to get one of each with no duplicates. Their individual value is usually the lowest, sometimes just a bit over retail. * The "Hidden" or "Small Secret": In a case of 12, one of the regular figures will be replaced by a "hidden" design. For the Macaron series, this was "Sesame Bean." The odds are typically 1 in 12. Its value is moderately higher than a regular. * The "Chase" or "Big Secret": This is the holy grail. The odds of pulling a chase are usually 1 in 144 boxes. This means you'd need to buy 12 full cases to get a guaranteed chase. This scarcity is the primary driver of high prices for figures like Soymilk. The question of what "rare Labubu" actually means is complex, but it always starts with these ratios.
Pillar 2: The Series Hype Cycle Every new series follows a predictable, yet chaotic, pattern. 1. Pre-Release Hype: Photos leak, influencers get early sets. Speculation begins. 2. Launch Day Spike: The series drops. Everyone wants it now. Prices for chase figures are based on pure speculation and are often at their most volatile. 3. The Great Unboxing: Over the next 1-3 weeks, thousands of boxes are opened. The market gets flooded with regulars, driving their prices down. The true scarcity of the chase is confirmed, and its price either stabilizes at a high point or, if overhyped, corrects downwards. 4. The Plateau: 1-2 months post-launch, the market finds its footing. This is where the true, stable `labubu market price` for that series is established. 5. Long Tail: Years later, well-loved series can see a resurgence in value as new collectors enter the hobby and want to complete older sets.
My advice for buyers? Unless you enjoy the thrill of gambling, avoid buying on launch week. Wait for the plateau.
Pillar 3: The Collaboration Multiplier Not all LABUBUs are from blind box series. Kasing Lung, the artist, frequently collaborates with other creators. The most famous example is the LABUBU x ZIMOMO crossover. These are often limited-edition, fixed-design figures (not blind boxed) with a much higher retail price (e.g., $100+).
These pieces operate on a different value system. Their scarcity is pre-defined by the production run number. Their value is tied to the popularity of both artists. These are less like lottery tickets and more like limited-edition art prints. Their value tends to be more stable and appreciate more slowly and predictably over time. They are, in my opinion, a "safer" bet if you're thinking about long-term value, but they lack the explosive "get rich quick" potential of pulling a hot chase.
Pillar 4: The X-Factor (Virality) This is the wild card. This is the Lisa effect. An X-Factor is any external event that pours gasoline on the fire. It could be a celebrity, a viral TikTok trend, or even a feature in a popular TV show.
You cannot predict X-Factors. You cannot plan for them. They are black swan events that create instant market insanity. When the Lisa bomb dropped, my entire business shifted for a month. I couldn't source Macarons fast enough. Shipping logistics became a nightmare. It was a perfect storm of demand that the supply chain was never built to handle. It also brought thousands of new people into the hobby who had never heard of LABUBU before. It was a defining moment for the brand's global recognition.
Real Talk: My Honest Seller's Verdict
Okay, let me put the playbook aside and just talk to you as a fellow fan. Stop chasing the hype. Seriously.
I see so many new collectors jump in, spend hundreds of dollars on the "hot" figure of the month, only to feel buyer's remorse when the next shiny thing comes along and the value of their prize dips. The people who are happiest in this hobby are the ones who buy what they genuinely love.
If you think the little LABUBU dressed as a lychee is the cutest thing you've ever seen, then pay the $40 for it. It'll bring you joy every time you look at it on your shelf. That joy is the real return on your investment. If you're only buying it because you think you can flip it for $80 next month, you're setting yourself up for disappointment. This isn't the stock market. It's a market driven by passion, aesthetics, and sometimes, pure luck.
Frankly, the whole discussion around why LABUBUs are so expensive often misses the point. They're expensive because we, the community, decide they are. If you don't love the art, no price is a good price.
A Quick Playbook for Buying & Selling
If you're still determined to play the market, here are a few practical tips from my side of the counter.
For Buyers: * Be Patient: I said it before, and I'll say it again. Wait 2-3 weeks after a major release. You'll save yourself a headache and a lot of money. * Buy Cases: If you're a completionist, buying a sealed case is the most economical way to get all the regular figures. You can explore the real deal on the LABUBU box and its economics, but it's almost always a better deal than buying 12 single boxes randomly. * Inspect Everything: When buying on the secondary market, ask for photos of the actual figure, not just a stock image. Check for paint flaws, scuffs, and make sure the original box and collector card are included. The card is especially important for verifying authenticity and maintaining value.
For Sellers: * Condition is King: Keep everything. The box, the foil pouch it came in, the little black bag, and the collector card. A "full set" will always command a higher price. Flatten the box neatly instead of crushing it. * Time the Market: If you pull a chase on day one, you have a decision to make. Selling immediately into the peak hype can yield the highest price, but it's a gamble. Waiting a few weeks gives you a more predictable, but potentially lower, sale. * Build a Reputation: Be an honest seller. Describe any flaws accurately. Ship quickly and package your items securely. A good reputation will get you repeat customers and allow you to command fair prices.
The Market Today and Where It's Going
As I write this, the Macaron frenzy has calmed significantly. The `labubu market price` for regulars has settled back to a reasonable $20-$35. Soymilk, the chase, still holds a strong value, but it's closer to $150-$200, not the $400+ it was at its peak. This is the natural market cycle.
The newest series, like the Flower Elves or the upcoming Fall Fairy Tales, will have their own cycles. Will one of them have the next "Soymilk"? It's impossible to say. That's part of the fun.
Ultimately, the `labubu value` question is deeply personal. I have some figures in my personal collection that are technically not "worth" much on the open market, but I wouldn't sell them for anything. They mark a memory, a fun unboxing with a friend, or they just happen to be a design that I think is perfect.
So, by all means, check the market prices. Have fun with the thrill of the chase. But don't let a price tag dictate your collection. The real value is in the joy these little monsters bring. If you're just starting out or looking to add a specific piece to your collection, you can always browse the latest LABUBU figures we have in stock and see what sparks joy for you.
Happy collecting.
*Disclosure: PopNya may earn a commission if you purchase through links on this page.
