Beijing, May 18, 2026 – The highly anticipated Poly 2026 Spring Auction concluded successfully yesterday, with the “Splendor of Jade and Gold – Important High-Ancient Jade and Ming-Qing Jade Carvings” special session performing exceptionally well. The total transaction volume reached RMB 185 million, with a remarkable sell-through rate of 89.5%, significantly exceeding market expectations. This auction result not only reflects the sustained enthusiasm of the collecting community for ancient jade but also signals a new round of value re-evaluation for the high-ancient jade market.
The special session featured 124 meticulously selected lots, with 8 items fetching over RMB 10 million. The most prominent lot was a “Western Zhou Dynasty Early Period Celadon Jade Dragon-shaped Pendant.” This jade pendant, with its archaic and majestic form, warm jade quality, and exquisite craftsmanship, was finally hammered at RMB 38 million, an increase of 35% over its estimate, becoming the highest-priced item of the session. Another piece, a “Late Warring States Period White Jade Openwork Dragon and Phoenix Bi Disc,” also sold for a high price of RMB 22.5 million, with its intricate openwork technique and auspicious motifs garnering unanimous acclaim from collectors.
From the data, the total transaction volume of this ancient jade special session increased by 15% compared to the same session in last year's autumn auction, and the sell-through rate also improved by nearly 10 percentage points. Among them, the average unit price of high-ancient jade (pre-Han Dynasty) saw a particularly significant increase of 25%, demonstrating strong market demand for early jade pieces that combine rarity, artistry, and historical value. The Ming and Qing jade carving section performed steadily, with exquisite pieces still fetching high prices, but the overall increase was relatively moderate.
Mr. Li Ming, a senior auction industry analyst, pointed out: “The success of this Poly Spring Auction's ancient jade special session is strong evidence of market confidence recovery. In the current global economic climate, the art market, especially ancient jade with its profound cultural heritage and scarcity, is becoming an important choice for hedging and asset allocation. The strong performance of high-ancient jade benefits from its irreplaceable historical value and artistic charm on one hand, and on the other hand, reflects the higher pursuit of cultural origins and aesthetic taste by a new generation of collectors.”
Professor Wang, Vice President of the China Jade Culture Research Association, also stated: “The astonishing transaction price of the Western Zhou Celadon Jade Dragon-shaped Pendant once again confirms the scarcity and market value of top-tier high-ancient jade. Such items are not only cultural relics but also carriers of Chinese civilization, and their value has transcended the general category of art. In the future, with the deepening of academic research and the maturing of collecting concepts, the market potential of high-ancient jade will be further released.”
Looking ahead, the industry generally believes that the ancient jade market will continue to maintain a steady growth trend, especially for high-ancient jade masterpieces with excellent condition, clear provenance, and definitive dating evidence, whose value still has significant room for appreciation. At the same time, with increased information transparency and the popularization of professional connoisseurship knowledge, the market will become more rational, and the consideration of jade's cultural connotations and artistic value will become a key factor in determining prices. It is expected that in the coming auction seasons, major auction houses will intensify their efforts to source high-ancient jade to meet the growing market demand.