'Dangerous' fake Labubus hit 'crisis' level as real dolls sell for as much as $172K. Why investing in collectibles isn't a good financial strategy

Counterfeit Labubus, now dubbed “Lafufus,” could be all over the place (1), according to market experts who declare the prevalence of the fake dolls a “crisis.” As consumers order more and more Labubus to get their hands on the special color or edition they’ve been after, they risk purchasing a fake. Some buyers, however, may not care that their new creature isn’t signed, stamped and sealed from Big Labubu (2).

Even if you or your child are content with a fake — as long as it’s got that pointy tooth grin and sinister eyes — buying a counterfeit can pose risks that go beyond a lack of authenticity.

Gambling on Labubus

It’s not just the doll’s endearing cuteness that’s been attracting consumers, but also the purchase of the Labubu itself. Pop Mart utilizes a “blind box” model, meaning you don’t know what color Labubu you’re going to get until you open the package. That makes every unboxing a pure thrill.

Among the Labubus on the market are different colors and styles, including rare, scarce and special editions. This brings consumers into “variable ratio reinforcement” (3) — a strategy that keeps shoppers purchasing a specific product from retailers over and over again until they get the one they want. In fact, some shoppers are dropping thousands of dollars just to get the Labubus they’re after (4).

“Scarcity makes things feel more valuable, creates a sense of urgency, heightens the feeling of exclusivity among those who obtain them, and often sparks conversations and competition,” marketing professor Ying Zeng shared with CU Boulder Today (5).

With the massive popularity of Labubus, it was likely just a matter of time before knock-off versions began to hit the shelves. The market is now reportedly filled with counterfeits, and while they may look the same, they don’t have the same safety standards.

In fact, the U.S. Consumer Product Safety Commission has issued a warning for fake Labubus, saying the phony dolls — which are sold as plush figures and keychains — can break into little pieces, which can block airways and cause a choking hazard if swallowed (6).

Plus, consumers have no idea what shady ventures their purchase of Labubu fakes might be funding, as authorities work hard to intercept counterfeit toy shipments that might have ties to trafficking, terrorism and organized crime (7).