At first, when I saw the news about the so-called Labubu, I was quite puzzled. Has people's aesthetic taste dropped to this level? However, after thinking it over carefully, I realized that I was too shallow at the beginning; this is fundamentally a classic financial bubble event. As long as an item is carefully packaged with the background that it will sell for a sky-high price in the future, it can effectively stimulate people's most primitive greed. At this point, it doesn't matter what the packaged item is, even if it's a piece of excrement.

Yesterday they shouted, 'If you can grab it, I lose', but today they are wailing in the group, '800 to buy a whole box, save me, brother!'
In the scalpers' group at three in the morning, messages were frantically flooding: '1500 yuan for a whole box of the high-energy series urgently out!' 'Macaron single sold at a 50% markup!' 'Who is collecting hidden styles? Price is negotiable!'—the once hard-to-find Labubu has now become a hot potato. All this stemmed from a significant blow from Pop Mart on the afternoon of June 18: the Labubu 3.0 series officially opened for unlimited online pre-sale for the first time.

In just 24 hours, the secondary market premium plummeted from 57 times to the original price level, with scalper quotes free-falling like a free fall: 'The recycling price dropped from 2800 yuan to 700 yuan, with no market for it!'