【Hong Kong, October 28, 2026】Sotheby's Autumn 2026 auction concluded successfully yesterday, achieving a total sales figure of US$280 million, once again affirming the strong recovery of the global art market. Among them, the highly anticipated 'Fine Chinese Art' special sale performed exceptionally well, with a total sales figure of US$120 million and a remarkable sell-through rate of 92%, far exceeding market expectations. Ancient jade bi, as the highlight of this auction, became a key driving force for the increase in sales due to its outstanding artistic value and rarity.
The star lot of this auction, a 'Chilong Dragon Pattern Celadon Jade Bi' from the Western Han Dynasty, hammered for an astonishing US$35 million, far surpassing its estimated price of US$15 million to US$20 million, representing a premium rate of 75%. This jade bi, with a diameter of 28 cm, features warm jade quality and exquisite craftsmanship, with vivid and lifelike chilong dragon patterns. It is one of the best-preserved and largest examples of its kind from the Western Han Dynasty known to date. According to Mr. Nicolas Chow, Chairman of Sotheby's Asia, the lot underwent multiple rounds of intense bidding and was ultimately acquired by an anonymous Asian private collector, once again demonstrating the global appeal of top-tier Chinese artworks.
In addition to this record-breaking jade bi, several other ancient jade pieces also performed well. A 'Grain Pattern White Jade Bi' from the Warring States period sold for US$8.5 million, an increase of 42% over its estimate; a 'Nipple Pattern Yellow Jade Bi' from the Eastern Han Dynasty also changed hands for US$4.2 million, exceeding its estimate by 30%. Overall, the average selling price of ancient jade bi in this auction increased by approximately 25% compared to the same period last year, indicating collectors' continued pursuit of high-ancient jade.
Market Analysis and Trend Prediction:
The success of this Sotheby's autumn auction, especially the strong performance of the ancient jade bi segment, further solidifies our optimistic assessment of the high-end art market. Firstly, the gradual recovery of the global economy and the accumulation of wealth among high-net-worth individuals provide a solid foundation for art investment. Secondly, Chinese artworks, particularly high-ancient jade with profound cultural heritage and rarity, are gaining increasing recognition globally. They are not merely artworks but also carriers of history and culture, possessing irreplaceable value.
Ms. Lily Wang, Senior Specialist in Chinese Art at Sotheby's, noted: "The sales data for ancient jade bi in this auction is exhilarating. This not only reflects the strong market demand for top-tier collectibles but also indicates that collectors are increasingly demanding regarding the condition, craftsmanship, and provenance of jade pieces. In the future, we anticipate that ancient jade bi with excellent condition, clear provenance, and unique historical and cultural value will continue to see steady price increases. Conversely, jade pieces with average condition, crude craftsmanship, or unknown provenance may see a more subdued market performance."
Expert Commentary:
Professor Li Ming, a renowned jade market analyst, stated in an interview: "The record-breaking sale of the Western Han Chilong Dragon Pattern Celadon Jade Bi is a significant milestone for the ancient jade market. It not only raises the value expectations for the entire high-ancient jade segment but also provides clear guidance for future market trends. When investing in ancient jade, collectors should focus on its historical and cultural value, jade quality, craftsmanship, and clear provenance. With the deepening of global cultural exchange, ancient Chinese jade, as a treasure of Chinese civilization, will continue to expand its international influence, and its future market potential is immense."
In conclusion, the success of Sotheby's Autumn 2026 auction, particularly the outstanding performance of the ancient jade bi segment, has undoubtedly injected a strong boost into the global art market. In the foreseeable future, high-end Chinese artworks, especially rare treasures that combine historical, cultural, and artistic value, will continue to be the focus of collectors and investors.