(Yicai) Dec. 31 -- The resale prices of some Labubus dolls, the hit collectibles from Chinese toymaker Pop Mart International Group, have plunged by as much as 88 percent in some cases, following a jump in supply and weakening speculative demand.

The resale price of the secret ID figure in this year's most popular Labubu collection, The Monsters Big Into Energy (Version 3), had tumbled to CNY540 (USD77) yesterday from a high of CNY4,522 (USD645) on June 15 after several restocks, according to data from used goods platform Poizon. The price had dropped to CNY2,433 after a big restock on June 18.

Pop Mart’s share price [HKG: 9992] has also tumbled, closing down 3 percent at HKD185 (USD23.77) today, extending the stock’s decline to 46 percent from an all-time high of HKD339.80 on Aug. 26.

The Beijing-based company released The Monsters Big Into Energy (Version 3) collection in April, priced at CNY99 (USD14.15). The box sold for an average of around CNY117 on resale sites over the past 30 days, peaking at CNY131 on Dec. 16, Poizon data showed.

On some used goods platforms, several Labubu product prices have even fallen below their original retail cost, prompting some scalpers to say on social media that they will stop buying the dolls. 

Editor: Martin Kadiev