Hangzhou, May 28, 2026 – The highly anticipated Xiling Yinshe 2026 Spring Auction concluded successfully yesterday. The “Jijin Leshi – Ancient Jade Session” performed exceptionally well, achieving a total transaction value of RMB 185 million, with an impressive sell-through rate of 92.3%, far exceeding market expectations. This auction not only demonstrated the strong market appeal of high-ancient jades but also indicated that the Chinese art market, particularly the ancient jade sector, is gradually emerging from its adjustment period and showing a steady recovery.
Highlight Lots: High-Ancient Jades Show Strong Performance
Undoubtedly, the star lots of this session were several high-ancient jades. Among them, a “Late Shang Dynasty Jade Beast Mask Gui” was hammered at RMB 38 million, with a final price of RMB 43.7 million including commission, significantly surpassing its pre-sale estimate (RMB 20-30 million), making it the highest-priced lot of the session. This gui features a regular shape, warm jade quality, and exquisitely carved beast mask patterns, possessing immense historical and artistic value. Another “Early Western Zhou Dynasty Celadon Jade Dragon-shaped Pendant” also sold for RMB 15.5 million, nearly doubling its estimate (RMB 8-12 million). The successful sale of these two high-ancient jades not only set new single-item records for Xiling Yinshe's ancient jade auctions but also fully reflected collectors' pursuit of rare, well-preserved, and well-documented high-ancient jades.
Transaction Data Analysis: Enhanced Market Confidence
This ancient jade session offered a total of 120 lots, with 111 ultimately sold, achieving a sell-through rate of 92.3%, a significant increase from the 85% recorded in the same period last year. The total transaction value of RMB 185 million represents a 54.17% increase compared to RMB 120 million in the 2025 Spring Auction. The average price per lot reached RMB 1.666 million. The data indicates that almost all exquisite jade pieces estimated above RMB 5 million were sold, with many fetching high or even exceeding their estimates, suggesting a gradual recovery of confidence in the high-end ancient jade collecting market. Mid-to-low-priced lots (RMB 100,000 to RMB 1 million) also performed well, maintaining a sell-through rate above 90%, demonstrating the stability of the market foundation.
Market Analysis and Trend Judgment: Refinement and Academic Focus are Future Directions
Zhang Ming, a veteran auction industry journalist, commented: “The success of Xiling Yinshe's ancient jade session this spring is not accidental. It reflects a current market trend: collectors are increasingly inclined to acquire exquisite pieces with clear provenance, pristine condition, and definite historical and cultural value. High-ancient jades, due to their non-renewable nature and profound cultural heritage, were the first to rebound after the market adjustment period, which aligns with the value principles of the art market.”
Li Hua, an ancient jade market analyst, pointed out: “The future ancient jade market will show a more 'refined' and 'academic' trend. When selecting lots, collectors will not only focus on jade quality and craftsmanship but also pay more attention to their archaeological background, provenance, and relevant academic research. Auction houses, when sourcing lots, will also need to emphasize the academic value and cultural connotations of the pieces, providing detailed verification materials to meet the demands of increasingly sophisticated collectors. Furthermore, with the development of digital technology, the combination of online previews and online bidding will further expand the audience for ancient jades.”
Expert Commentary: Rational Investment, Focus on Value
Professor Wang, a renowned ancient jade appraisal expert, emphasized in an interview: “Although the current ancient jade market is recovering, collectors still need to remain rational. Investing in high-ancient jades requires not only profound professional knowledge but also an accurate judgment of market trends. It is advisable for collectors to learn more, communicate more, and choose reputable auction houses and professional institutions to avoid blind following. Truly valuable ancient jades possess eternal cultural and artistic value, which is the fundamental reason for their preservation and appreciation.”
Looking ahead, the outstanding performance of Xiling Yinshe's ancient jade session this spring undoubtedly injected a strong boost into the entire art market. With the gradual improvement of the economic environment and the upgrading of collection philosophies, we have reason to believe that the Chinese ancient jade market will usher in healthier and more sustainable development.