BEIJING, November 15, 2026 – The highly anticipated Poly 2026 Autumn Art Auction concluded successfully yesterday. The total transaction volume of this auction reached an impressive 2.85 billion RMB, with a sell-through rate of 82.3%, a 15% increase compared to the same period last year. This indicates a strong recovery trend in the art market, especially in the high-end jadeite sector. High-end Bi Yu (nephrite jade) was a particular highlight of this auction, with several exquisite pieces fetching prices significantly exceeding their estimates, drawing considerable market attention.
Bi Yu Sector Shines, Transaction Data Sets New Records
This autumn auction featured 120 high-end Bi Yu lots, with 108 ultimately sold, achieving an impressive sell-through rate of 90%. The total transaction volume for Bi Yu reached 580 million RMB, accounting for 20.3% of the total auction turnover. Among them, a Qing Dynasty Qianlong period 'Bi Yu Carved Dragon and Phoenix Ruyi Scepter' was hammered at 85 million RMB, far exceeding its highest estimate of 60 million RMB, with a premium rate of 41.6%, becoming the 'King of Jade' for this auction. Another 'Ming Dynasty Bi Yu Carved Nine Dragons Playing with a Pearl Brush Pot' also sold for 42 million RMB, a 25% increase over its estimate. In addition, several small and medium-sized Bi Yu exquisite pieces, such as Hetian Bi Yu bracelets and pendants, also performed well, with an average premium rate of 18%, demonstrating the market's continued pursuit of high-quality Bi Yu.
Market Analysis: Policy Benefits and Consumption Upgrades Drive Growth
Li Ming, a senior auction industry analyst, stated: “The success of this Poly autumn auction, especially the outstanding performance of the high-end Bi Yu sector, is the result of multiple converging factors. Firstly, the steady recovery of the macro-economy provides a solid foundation for the art market. Secondly, the continuous strengthening of national support policies for the traditional cultural industry has boosted the confidence of collectors. More importantly, with the growth of the middle class and the upgrading of consumption concepts, more and more people are beginning to view art, especially jade with its value preservation and appreciation attributes, as an important asset allocation and cultural consumption. Bi Yu, with its warm texture, rich colors, and profound cultural heritage, is increasingly favored by collectors.”
Wang Fang, a jade market analyst, added: “From this auction, it can be seen that the market's aesthetic preference for Bi Yu is returning to 'quality first'. Those Bi Yu masterpieces with delicate jade quality, pure color, exquisite craftsmanship, and clear provenance, regardless of their age, are able to gain recognition from collectors. Especially Bi Yu from the Xinjiang Hetian region, due to its scarcity and unique oily luster, has maintained high prices. In the next few years, we expect the price of high-end Bi Yu to continue to rise steadily, especially rare pieces with famous carvers or historical anecdotes, which have huge potential for value growth.”
Expert Commentary: Rational Investment and Value Return
Professor Zhang, Director of the Jade Professional Committee of the China Cultural Relics Society, pointed out: “The success of this auction also reflects a more rational market. When selecting lots, collectors are no longer blindly pursuing high prices, but are paying more attention to the artistic value, cultural connotations, and rarity of the pieces. The 'Bi Yu Carved Dragon and Phoenix Ruyi Scepter' fetched a sky-high price not only because of its superb material and craftsmanship but also because of its profound cultural symbolism and historical heritage. This reminds us that art investment is not a simple game of wealth, but a respect for culture and history, and its inheritance.”
Looking ahead, with the continuous development of China's economy and the increasing cultural confidence, the art market, especially the traditional cultural art sector represented by jade, will usher in broader development space. This Poly autumn auction undoubtedly brought a successful close to the 2026 art market and set a positive tone for the market in 2027.