【Hong Kong, May 20, 2026】Christie's Hong Kong Spring 2026 Auction concluded successfully yesterday. The highly anticipated 'Jade Resonance: Ancient Jade Pendants and Scholar's Objects' specialist sale performed exceptionally well, achieving a total of HK$128 million, significantly exceeding the pre-sale estimate of HK$85 million. The sell-through rate by lot reached 92%, and by value, an impressive 98%. This result once again confirms the strong demand and investment value of ancient jade, particularly high-ancient jade pendants, in the current art market.
The specialist sale presented 85 meticulously selected lots, covering various jade pendants from the Neolithic period to the Qing Dynasty. Among them, a 'Late Warring States/Early Western Han Period Celadon Jade Dragon and Phoenix Pendant (Huang)' with an estimate of HK$8 million to HK$12 million, was hammered at HK$25 million, reaching HK$30.25 million with buyer's premium, making it the top lot of the sale. This represents an astonishing 215% increase from its low estimate. The jade 'huang' boasts exquisite craftsmanship, a grand form, intricate motifs, and excellent preservation. Its rarity and artistic value were highly recognized by collectors. Another 'Late Shang Dynasty White Jade Human Face Pendant' also sold for HK$12.8 million, far exceeding its HK$4 million estimate, a 220% increase. Multiple lots sold for several times their estimates, demonstrating the market's strong pursuit of exquisite jade pieces.
Mr. Jonathan Stone, Chairman of Christie's Asia and International Director of Chinese Ceramics and Works of Art, stated in an interview: “The success of this ancient jade pendant sale once again proves the unique position of top-tier ancient jade in the hearts of global collectors. We have observed that collectors show immense enthusiasm for jade pieces with clear provenance, perfect condition, and significant historical and cultural value. High-ancient jade, in particular, with its irreplicable nature and profound cultural heritage, serves as a high-quality asset that preserves and increases in value across economic cycles.”
Professor Li Ming, a senior jade market analyst, pointed out: “In the current complex global economic environment, asset allocation for high-net-worth individuals tends towards hard assets that possess scarcity, artistic merit, and cultural attributes. Ancient jade pendants perfectly meet these criteria. Data shows that over the past five years, the compound annual growth rate for first-class Warring States and Han Dynasty jade pieces has been stable between 10% and 15%, and the premium rate in this auction reached a historical high. This is not only a reflection of artistic value but also an indication of the increasing recognition of traditional Chinese culture in the market.”
In terms of buyer demographics, this auction attracted numerous seasoned collectors and institutional investors from Greater China, North America, and Europe. Asian buyers continued to dominate, contributing approximately 70% of the total sales. The younger generation of collectors is also showing growing interest in ancient jade, focusing more on its cultural connotations and aesthetic design, which injects new vitality into the market.
Looking ahead, the ancient jade market is expected to maintain steady growth. As global awareness of traditional Chinese culture and art continues to rise, and as high-quality jade resources become increasingly scarce, the value of exquisite jade pendants is likely to further appreciate. However, the market also faces certain challenges, such as the difficulty of identifying fakes and the relatively low liquidity of some pieces with average condition or unclear provenance. Therefore, collectors still need to exercise caution when investing, prioritizing rare items with reliable provenance, expert authentication, and superior condition.