BEIJING, May 28, 2026 – The highly anticipated Poly 2026 Spring Art Auction concluded successfully today. Against a backdrop of challenging macroeconomic conditions, this spring sale, through its precise lot selection and strategic market operations, successfully injected a much-needed boost into the long-sluggish jade art market. The master jade carving section, in particular, performed exceptionally well, becoming the biggest highlight of the auction.
According to official data from Poly Auction, the total transaction value of this spring sale reached RMB 2.85 billion, an increase of 12.5% compared to the same period last year. The jade art special session performed particularly strongly, with a total transaction value of RMB 680 million and a high sell-through rate of 82%. This figure is significantly higher than the market's previous general expectation of around 70%, demonstrating strong demand for high-quality jade carvings and signs of recovering confidence.
Undoubtedly, the focus of this auction was several masterpieces by renowned jade carving masters. Among them, the white jade 'Fu Shou Shuang Quan' (Blessings and Longevity) ornament created by the late jade carving grandmaster Mr. Wu Desheng, with its warm jade quality, exquisite craftsmanship, and auspicious symbolism, was finally hammered at a high price of RMB 88 million after multiple rounds of fierce bidding, far exceeding its pre-sale estimate of RMB 60 million, with a premium rate of 46.7%. Another piece, a Hetian jade seed material 'Guanyin Statue' carved by contemporary jade carving master Mr. Cui Lei, with its delicate carving and unique artistic style, sold for RMB 45 million, approximately 28.6% higher than its estimate of RMB 35 million. In addition, several innovative works by young and middle-aged jade artists also achieved impressive results, with average transaction prices increasing by about 15% above their estimates, indicating market recognition for emerging talents.
Market analyst Li Ming pointed out: “The outstanding performance of master jade carvings in this Poly Spring Auction is not accidental. In the current economic climate, investors have a more urgent need for asset preservation and appreciation. High-quality, scarce jade art pieces, especially those from renowned masters, with their dual attributes of artistic and collection value, have become a preferred choice for hedging and wealth inheritance. The results of this auction undoubtedly boosted market confidence, signaling that the jade art market is gradually emerging from its slump and moving towards a healthier and more rational direction.”
Veteran jade collector Mr. Wang, in an interview, stated: “I have been following the jade market for decades, and this auction showed me a long-lost enthusiasm. Especially those top master works that have stood the test of time and have clear provenance, their value is unquestionable. Although the overall market still has fluctuations, the resilience of exquisite jade carvings has been fully verified.”
From a macro perspective, with the gradual recovery of the domestic economy and the trend of upgrading cultural consumption, the art market, especially jade art with its profound cultural heritage, is ushering in new development opportunities. The success of Poly Auction's spring sale has set a benchmark for the entire industry and provided a positive signal for future market trends. It is expected that in the coming quarters, high-quality, story-rich, and master-endorsed jade carvings will continue to be sought after by collectors, and the market will show a structural rebound. At the same time, for the mid-to-low-end jade market, inventory pressure and price fluctuation risks still need to be guarded against, and market differentiation will further intensify. Collectors and investors should still maintain a cautious attitude when entering the market, focusing on the artistic value, craftsmanship, and market liquidity of the works.