BEIJING, May 18, 2026 – The highly anticipated Poly 2026 Spring Art Auction concluded successfully today, with the 'Treasures of Light – Ancient and Modern Chinese Jade' specialist sale performing exceptionally well. This session achieved a total transaction value of RMB 380 million, with a remarkable sell-through rate of 88.5%, significantly exceeding market expectations. This performance demonstrates the strong resilience and steadily recovering confidence in the high-end jade collecting market.
The undisputed highlights of this spring auction were several masterpieces by renowned jade carving artists. Among them, the 'Nine Dragons Playing with a Pearl' large bi-jade ornament, created by the late master Wang Shusen, garnered immense attention with its exquisite craftsmanship and majestic presence. After nearly 20 rounds of intense bidding, it was finally hammered down at RMB 68 million, an impressive premium of over 51% above its upper estimate (RMB 45 million), setting a new auction record for bi-jade ornaments in the past five years. Another piece, a 'Guanyin' standing statue carved from Hetian jade seed material by contemporary jade carving master Wu Desheng, achieved RMB 32 million due to its warm texture and lifelike carving, a 28% increase from its estimate, indicating sustained market pursuit of contemporary masters' works.
From the data, the average premium rate for this spring auction reached 25%, a 5 percentage point increase compared to the same period last year. Master-level works generally saw premium rates above 35%, while ordinary works maintained premium rates between 10%-15%. This further confirms that 'boutique' and 'master-focused' are the prevailing trends in the current jade collecting market. In terms of buyer composition, mainland collectors remained the main force, accounting for over 70%, while Hong Kong, Macao, Taiwan, and overseas collectors were active in bidding for high-end exquisite pieces, showing particular interest in items with clear provenance.
Li Ming, a senior auction industry analyst, stated: "The success of Poly's spring auction, especially the outstanding performance of master jade carvings, sends several key signals. First, market demand for high-quality, scarce artworks remains strong; even when the macro economy faces challenges, top-tier artworks can maintain their value. Second, the 'master effect' is becoming increasingly prominent in the jade market, with collectors more inclined to invest in works with clear artistic value and market recognition. Finally, both the sell-through rate and premium rate of this auction exceeded expectations, indicating that market confidence is gradually recovering, and investors are optimistic about the long-term prospects of the art market."
Zhang Hua, Vice President of the China Jade Culture Research Association, also pointed out: "In this auction, works that balanced traditional themes with innovative craftsmanship were favored by collectors. For example, some jade carvings that incorporated modern aesthetic elements into traditional auspicious beast and figure themes also performed well in terms of transaction prices. This shows that the jade market is not stagnant but is constantly absorbing new artistic concepts as times evolve. In the future, jade carvings that combine cultural heritage, exquisite craftsmanship, and innovative spirit will be more competitive in the market."
Looking ahead, with China's continuous economic development and strengthening cultural confidence, the art collecting market, especially the jade market with its profound cultural heritage, is expected to usher in new development opportunities. The success of Poly Auction's spring sale has undoubtedly injected a strong boost into the entire industry, signaling the formation of a more active and healthy art market.