The bursting of the Labubu and Baby Three bubble has left a trail of broken dreams and empty wallets. A cautionary tale of the collectibles market is unfolding, leaving many enthusiasts with a bitter taste of regret. But what caused this sudden shift?
Bao Ngoc, a young office worker, shares her story. She invested in a rare 'liquid eyes' Baby Three plush toy, a trendy collectible, only to see its value plummet. A year ago, she spent VND850,000 (US$30) on this prized possession, but now it barely fetches VND100,000. The market's fickle nature hit her hard, and she couldn't help but feel devastated.
The craze for these collectibles swept Ngoc off her feet in late 2024. She spent over VND7 million on a vast collection, driven by the thrill of the hunt and the fear of missing out. Online groups fueled her passion, and the excitement of unboxing rare models priced between VND250,000 and VND900,000 kept her going. But here's where it gets controversial—was it a wise investment or an emotional impulse?
As 2025 dawned, the bubble began to burst. The once-scarce official products became readily available, and the novelty faded. Ngoc's enthusiasm waned, and the dust on her shelf served as a stark reminder of the changing tides.
The Facebook groups, once bustling with excitement, now echo with reselling posts. Ngoc's realization that she wasn't alone in her predicament offers little comfort. The market had shifted, and buyers were nowhere to be found. Rare models, once coveted, now gather dust, their prices slashed.
Ngoc's regret runs deep. She reflects on her spending and wonders if a different investment choice could have changed her fate. And this is the part most people miss—the emotional rollercoaster of the collectibles market.
The global art toy market is in turmoil, with Bloomberg reporting a 24% price drop for major lines like Labubu and Baby Three. Pop Mart, the brand owner, saw its shares tumble, losing billions in market value. This collapse has left collectors in a state of buyer's remorse.
VnExpress survey reveals a flood of selling posts in online groups, with buyers few and far between. Collector-turned-seller Vo Ngoc Hieu confirms the market's slump, with buyer numbers halved since the peak. The once-rare models are now commonplace, leaving many collectors with a sense of regret and impulsive spending.
Duc Tien, another collector, shares a similar fate. His initial plan to buy a few Labubu figures for fun spiraled into an extensive collection of over 80. Now, he's caught between selling at a loss and holding onto toys that no longer spark joy.
Phan Dung Khanh, an investment advisor, sheds light on this phenomenon. He explains that rapid growth often precedes a sharp decline in consumer products. From pearl yogurt to spicy noodles, trends come and go, leaving some enthusiasts with financial woes.
Buyer's remorse creeps in when trends fade and scarcity diminishes. Falling prices may force some to cut their losses, while others may realize their passion has cooled. Khanh's advice? Define your budget and assess the longevity of a product before jumping on the bandwagon.
Are collectibles a wise investment or an emotional gamble? The debate rages on, leaving collectors to ponder their choices and the market's unpredictable nature. What's your take on this controversial topic? Share your thoughts in the comments below!
