Whether you are a devoted collector or a casual observer, you may have come across the furry designer dolls that took the world by storm last year — Labubu.
A quick online search shows these quirky collectibles being sold anywhere between RM55 and RM4,000, depending on rarity and market demand.
However, for one Malaysian, what began as a harmless hobby has reportedly spiralled into a financial nightmare, leaving him burdened with nearly RM200,000 in debt.
In an anonymous Facebook post, the collector said he was initially attracted to designer toys such as Bearbrick and Labubu for their visual appeal, starting with a small number of pieces to display at home.
The situation escalated after he became involved in online collector communities, where constant unboxing posts, limited-edition drops and discussions about rising resale value influenced his spending habits.
He admitted that his interest gradually shifted from genuine appreciation to social comparison and fear of missing out.
“If others had it, I wanted it too. If it was limited, I felt I needed to get it,” he wrote, adding that he slowly fell into what he described as a “cycle” of overspending.
By the time he reassessed his finances, he had accumulated close to RM200,000 in debt.
Today, the collection that once brought excitement has become a source of regret, with many of the items now sitting idle at home.
He said attempts to resell the items were unsuccessful, claiming that the market had cooled significantly and prices had dropped, leaving many pieces difficult to sell even at cost price.
The collector reflected that the money could have been used for more practical long-term goals, such as property investment or purchasing a vehicle.
“What do I have now? A pile of toys I cannot eat, use or liquidate,” he wrote, describing his emotional frustration over the situation.
He ended his post with a warning to others, urging caution against getting swept up in collecting trends driven by hype and speculation, stressing that not all limited-edition items retain or increase their value.
