[BEIJING, May 18, 2026] Poly Auction's recently concluded 2026 Spring Auction saw an exceptionally strong performance in its Bi Yu (spinach green jade) specialist sale, once again affirming the robust resilience and continuous growth potential of the high-end jade market. The Bi Yu sale achieved a total turnover of RMB 185 million, with a remarkable sell-through rate of 89.5%, significantly exceeding market expectations. Several exquisite Bi Yu lots set new records for their respective categories.
The undisputed highlight of the auction was the heavyweight lot, the 'Imperial Green' Bi Yu carving titled 'Nine Dragons Presenting Auspiciousness' (《九龙献瑞》). This masterpiece, meticulously crafted over three years by contemporary jade carving master Wang XX, with its warm and delicate texture, rich and even color, and superb carving techniques, ultimately hammered for RMB 68 million after intense bidding. This represents a premium of 51.1% over its upper estimate of RMB 45 million, making it the top lot of the sale. Another highly anticipated item was a Qing Dynasty Qianlong period Bi Yu 'Fortune and Longevity' (《福寿双全》) lidded box. This elegant piece, with its refined form, exquisite ornamentation, and profound historical and cultural significance, sold for RMB 22 million, 37.5% above its estimate. Additionally, a modern Bi Yu 'Lotus Pond Moonlight' (《荷塘月色》) tea set also performed well, selling for RMB 8.5 million, demonstrating the market potential of contemporary jade carving in functional ware.
From a data perspective, the total turnover of this Bi Yu specialist sale increased by 15.3% compared to the same period last year, and the sell-through rate also rose from 82% last year to 89.5%, indicating strong market demand for high-quality Bi Yu. Notably, exquisite Bi Yu lots estimated above RMB 5 million achieved an average premium rate of over 35%, while mid-to-low-end Bi Yu lots remained stable with premium rates between 10% and 15%. This suggests that market capital is concentrating on high-end Bi Yu that possesses both scarcity and artistic value.
Mr. Li Ming, a senior auction industry analyst, pointed out: “The success of this Poly Spring Sale's Bi Yu specialist sale sends several key signals. Firstly, against the backdrop of economic recovery, high-net-worth individuals' confidence in art investment is gradually recovering, especially for hard assets like Bi Yu, which possess both cultural attributes and potential for value preservation and appreciation. Secondly, market awareness and appreciation for exquisite jade have significantly improved; buyers are no longer blindly pursuing large pieces but are focusing more on jade quality, craftsmanship, cultural connotation, and traceable provenance. Finally, the market recognition of contemporary jade carving masters' works continues to rise, with their innovative spirit and superb skills injecting new vitality into the Bi Yu market.”
Mr. Zhang Hua, President of the Beijing Jade Association, also commented: “Bi Yu, as an important component of traditional Chinese jade culture, has long been undervalued in the market. In recent years, with the increasing depletion of Hetian jade resources and the rising aesthetic appreciation of collectors, Bi Yu, with its unique color and warm texture, has become increasingly favored by collectors. Particularly, high-quality Bi Yu from regions such as Russia and Canada, after exquisite carving, has seen a significant increase in both its artistic and economic value. We anticipate that in the next five years, the market price of high-end Bi Yu will maintain a steady upward trend, with an average annual increase expected to reach 8%-12%.”
Looking ahead, with the continuous development of China's economy and the strengthening of cultural confidence, the art market, especially the jade market with its profound cultural heritage, will embrace broader development opportunities. Poly Auction's successful Bi Yu specialist sale undoubtedly injects a strong boost into the entire industry, signaling that the spring for the high-end jade collecting market has arrived.