Labubu at Paris Fashion WeekPer The Art Newspaper, some of the hottest bids at this year’s art Basel weren’t for a sculpture or painting.Instead, they say, the first fifty limited-edition Art Basel Labubu toys sold out in 20 minutes flat, causing “bedlam”. Soon after, the publication claimed, “a would-be Labubu flipper yelled that he would be willing to resell his for $5,000 in cash.”Sure, it’s nothing to the multimillion-dollar Hockney sale that seems to have led the fair.But why were collectors vying for a “slightly sinister-looking” toy to begin with – and why have celebs like Cher, Rihanna,