【Hong Kong, April 28, 2026】Sotheby's Hong Kong Spring 2026 Auction concluded successfully yesterday, achieving a total sales figure of HK$2.25 billion, exceeding the pre-sale high estimate by 15%, with a sell-through rate of 88%. Among them, the highly anticipated “Important Chinese Art” sale performed exceptionally well, with multiple archaic jade pieces selling for prices far exceeding their estimates, once again confirming the strong momentum of the ancient jade market, particularly the archaic jade sector.
The highlight of this spring sale was undoubtedly a “Late Western Han / Xin Dynasty Yellow Jade Openwork Chilong and Grain Pattern Bi Disc” from a private collection, estimated at HK$35 million to HK$50 million. After several rounds of intense bidding, it was finally hammered at HK$82 million, with the final price reaching HK$98.4 million including buyer’s premium, setting a new auction record for archaic jade bi discs in the past five years. The jade bi disc boasts a warm and lustrous texture, exquisite craftsmanship, lively openwork chilong motifs, and neatly arranged grain patterns, fully demonstrating the pinnacle of Han dynasty jade carving artistry. Its high premium sale not only reflects collectors' pursuit of rare treasures but also indicates the market's recognition of the value of high-grade, well-provenanced ancient jade.
In addition, a “Warring States Period Celadon Jade Dragon and Phoenix Motif Huang Pendant” also sold for HK$28 million (HK$33.6 million including premium), representing an impressive 86.6% increase from its estimate of HK$12 million to HK$18 million. This huang pendant features a regular shape and intricate patterns, with ancient and elegant dragon and phoenix motifs, also highly sought after by collectors. In the entire “Important Chinese Art” sale, the sell-through rate for archaic jade pieces reached 95%, with an average premium rate exceeding 40%, significantly higher than other categories.
Market Analysis and Trend Judgment:
Mr. Nicolas Chow, Chairman of Sotheby's Asia and Worldwide Head of Chinese Works of Art, stated after the auction: “The success of this spring sale, especially the outstanding performance of ancient jade bi discs and archaic jade pieces, once again proves the deep interest of global collectors in traditional Chinese art and culture. We observe that the market's demand for well-preserved, well-provenanced, and culturally rich archaic jade pieces remains strong, and these collectibles have become an important choice for asset allocation and cultural investment.”
Professor Li Ming, a senior jade market analyst, pointed out: “In recent years, the archaic jade market has shown two significant trends. Firstly, the pursuit of exquisite and rare pieces is the core driving force. Collectors are more inclined to acquire top-tier archaic jade pieces with clear historical period characteristics, exquisite craftsmanship, and limited quantities. Secondly, the endorsement of academic research and cultural value has made the collection of archaic jade not just a symbol of wealth, but also a manifestation of a deeper understanding and inheritance of Chinese civilization. The record-breaking prices of high-grade jade bi discs in this auction are a strong testament to this trend. It is expected that the archaic jade market will continue to maintain steady growth in the coming years, especially for unique or rare pieces with significant historical, artistic, and cultural value, which still hold immense appreciation potential.”
From the perspective of buyer demographics, Asian collectors, particularly those from Greater China, still dominate the bidding for archaic jade pieces in this auction, but the participation of collectors from Europe and America has also significantly increased, indicating that the international influence of archaic jade is gradually expanding. This suggests that the archaic jade market will attract more international capital attention in the future.
Expert Commentary:
Mr. Zhang Hua, Vice President of the Jade Professional Committee of the China Cultural Relics Society, commented: “The auction record for ancient jade bi discs at Sotheby's spring sale undoubtedly injected a strong boost into the archaic jade market. This is not only an affirmation of the value of individual jade pieces but also a deep exploration of the potential of the entire archaic jade sector. We see that the market has shifted from a simple material-based approach to a comprehensive consideration of cultural connotations, craftsmanship, and historical value. In the future, jade pieces that can tell historical stories and carry cultural memories will be more favored by the market.”
In summary, the brilliant achievements of Sotheby's Spring 2026 Auction, particularly the leading performance of ancient jade bi discs, clearly depict a burgeoning archaic jade market. Driven by multiple factors such as the scarcity of exquisite pieces, the prominence of cultural value, and increasing international attention, archaic jade will undoubtedly continue to be a shining star in the field of art investment.