Sotheby's Spring 2026 Auction: Ancient Jade Bi Leads, Archaic Jade Market Continues to Heat Up

【Hong Kong, April 20, 2026】Sotheby's Spring 2026 auction concluded successfully yesterday, achieving a remarkable total turnover of US$1.25 billion, once again affirming the strong recovery of the global art market. Among them, the highly anticipated 'Fine Chinese Works of Art' sale performed exceptionally well, with a total turnover exceeding US$280 million and a sell-through rate of 92%, far surpassing market expectations. The highlight of this auction was undoubtedly several rare ancient jade bi discs, which, with their profound historical significance and exquisite craftsmanship, attracted fierce bidding from collectors worldwide.

The star lot of this auction – a 'Dragon and Phoenix Motif Celadon Jade Bi' from the Western Han Dynasty – finally hammered down at an astonishing US$28 million, significantly exceeding its estimate of US$12 million to US$18 million, with a premium rate of 55.6%. This jade bi, with a diameter of 25 cm, features warm jade quality and intricate carving, with vivid dragon and phoenix motifs, fully showcasing the imperial grandeur of the Han Dynasty. Another 'Grain Pattern White Jade Bi' from the Spring and Autumn period also performed well, selling for US$15 million, an increase of 25% compared to its estimate of US$8 million to US$12 million. Overall, the average selling price of all ancient jade bi discs in this auction increased by approximately 18% compared to similar lots in the previous auction, indicating a strong growth momentum in the archaic jade market.

Nicolas Chow, Chairman of Sotheby's Asia, stated after the auction: "The success of this spring sale, particularly the outstanding performance of the ancient jade bi section, once again proves the unique position and immense potential of Chinese archaic jade in the global art market. Collectors have shown extreme enthusiasm and confidence in ancient jade artifacts with clear provenance, excellent condition, and exquisite craftsmanship."

Market Analysis and Trend Prediction:

The data from this Sotheby's spring sale clearly reveals several significant trends in the current archaic jade market:

• Clear Trend Towards High-Quality Pieces: There is strong demand for top-tier archaic jade with excellent condition, clear provenance, and exquisite craftsmanship. Such lots often fetch prices far exceeding their estimates. In contrast, pieces of average condition or unknown origin perform poorly, or even go unsold. This indicates that collectors' approach to collecting archaic jade is becoming more mature and rational, focusing more on the artistic, historical, and rarity values of the collections.


• Increased International Collector Participation: The participation of international collectors from North America, Europe, and the Middle East significantly increased in this auction. Their growing appreciation and interest in Chinese ancient art have injected new vitality and capital into the archaic jade market. This will further enhance the position of Chinese archaic jade in the global art market.


• Return to Cultural Value: With the increasing global recognition of traditional Chinese culture, the profound cultural connotations and historical significance embedded in archaic jade are gaining more attention. As ancient ritual and auspicious objects, the unique cultural symbolism of jade bi discs is an important component of their value, which is also a key reason for their strong performance in the market.


• Prominence of Investment Attributes: Against the backdrop of increased global economic uncertainty, the attribute of art as an alternative investment asset is becoming increasingly prominent. Archaic jade, due to its scarcity, non-renewability, and stable value appreciation potential, has become an important choice for asset allocation for many high-net-worth individuals.

Professor Zhang, a renowned jade appraisal expert and member of the Jade Professional Committee of the Chinese Society of Cultural Relics, pointed out: "The ancient jade bi transaction data from this Sotheby's spring sale is exhilarating, especially the high price achieved by the Western Han dragon and phoenix motif celadon jade bi. Its high sale price is not only a market recognition of the value of a single artwork but also a positive signal for the future potential of the entire archaic jade sector. I predict that within the next five years, top-quality archaic jade pieces with clear provenance will continue to maintain a steady upward trend in value, especially those with significant historical or cultural importance, which will have even more considerable room for value growth. At the same time, market considerations regarding the origin of the jade material, carving style, and auspicious meanings of the patterns will also become more detailed and professional."

In conclusion, the success of Sotheby's Spring 2026 auction, particularly the excellent performance of the ancient jade bi section, has injected a strong boost into the global art market. The archaic jade market is entering a new stage characterized by high-quality pieces, internationalization, value return, and prominent investment attributes, and its future development warrants continuous attention.