【Hong Kong, May 10, 2026】Sotheby's Spring 2026 auction concluded successfully, with the 'Important Chinese Art' sale standing out particularly. Ancient jade bi, as the centerpiece of this sale, once again affirmed the increasingly active market for archaic jade with its exceptional artistic value and historical significance. The total transaction value of this auction reached US$280 million, with a remarkable sell-through rate of 88%, far exceeding market expectations and demonstrating strong global collector demand for Asian art, especially ancient Chinese art.
The star lot of this auction, a 'White Jade Bi with Dragon and Phoenix and Grain Patterns' from the Western Han Dynasty, hammered for an astonishing US$18.5 million, significantly surpassing its estimate of US$8 million to US$12 million, achieving a premium rate of 54.17%. This jade bi, with a diameter of 25.8 cm, boasts a warm and delicate jade quality, exquisite craftsmanship, vivid dragon and phoenix motifs, and perfectly arranged grain patterns. Its flawless condition undoubtedly makes it a pinnacle of Han Dynasty jade carving art. Another 'Archaic Green Jade Bi with Taotie Mask and Out-of-Body Design' from the Warring States period also performed well, selling for US$6.2 million, an increase of 24% compared to its estimate of US$3 million to US$5 million. Furthermore, several other archaic jade pieces from the Spring and Autumn, Warring States, and Han Dynasties, such as jade huang and jade cong, also sold above their estimates, with an average increase of over 15%.
Mr. Nicolas Chow, Chairman of Sotheby's Asia and International Head of Chinese Works of Art, stated after the auction: "The success of this spring sale, particularly the outstanding performance of the archaic jade section, fully demonstrates the continuous pursuit by global collectors for ancient Chinese art with clear provenance, perfect condition, and exceptional artistic value. Ancient jade bi, as traditional Chinese ritual objects and symbols of power, their profound cultural connotations and scarcity make them darlings of the collecting world. We observe that both new and seasoned collectors are actively investing in this sector, and market confidence is strong."
Professor Li Ming, a market analyst, pointed out: "In recent years, the archaic jade market has shown a steady upward trend. On one hand, with the continuous development of China's economy and the enhancement of cultural confidence, domestic collectors' awareness and demand for local art continue to grow; on the other hand, international collectors are increasingly recognizing the unique charm and investment value of ancient Chinese jade. Compared to traditional popular sectors such as calligraphy, painting, and porcelain, the existing quantity of archaic jade is relatively scarce, and the difficulty of identifying fakes is higher, which makes the value of genuine masterpieces even more prominent. We expect the archaic jade market to maintain an annual growth rate of 5% to 10% in the next five years, especially for museum-quality collections with clear historical authentication and traceable provenance, which have immense price potential."
The success of this auction is not only reflected in the high transaction value but also in its record-breaking sell-through and premium rates in recent years, particularly the performance of ancient jade bi and other archaic jade pieces, which undoubtedly injected a strong boost into the entire Asian art market. This indicates that, against the backdrop of economic globalization and increasingly frequent cultural exchanges, ancient Chinese art, especially those precious items imbued with profound historical and cultural heritage, will continue to be a significant growth point in the global art market.