BEIJING, May 20, 2026 – The highly anticipated Poly 2026 Spring Art Auction concluded successfully yesterday. The total transaction value of the auction reached RMB 1.53 billion, with the jade ware special session performing exceptionally well, achieving a total transaction value of RMB 380 million and a remarkable sell-through rate of 88.5%, significantly exceeding market expectations. This indicates that, even in the current complex and volatile economic environment, high-quality master jade carvings remain a focal point for collectors and serve as a crucial force in stabilizing market confidence.
The jade ware special session featured a total of 120 lots, with a strong emphasis on exquisite works by contemporary master jade carvers. The highly anticipated highlight lot, the 'Prosperous Lotus Rhyme' white jade ornament created by Chinese Arts and Crafts Master Wang XX, was hammered down at an astonishing price of RMB 38 million, far exceeding its pre-sale estimate of RMB 20 million, with a premium rate of 90%. Another piece, the 'Mountain and Water Serenity' spinach jade mountain carving by emerging jade carving artist Li XX, also sold for RMB 12.5 million, an increase of 66% over its estimate, demonstrating the market's recognition of the new generation of jade carving talent.
From the data, the average transaction price of the jade ware special session reached RMB 3.16 million, an increase of 12.8% compared to the average transaction price of the jade ware special session at Poly's spring auction last year (RMB 2.8 million). High-priced lots generally saw higher premium rates, with many selling for over 50% above their estimates, while the sell-through rate for mid-to-low-priced lots (estimated below RMB 500,000) also remained above 90%, indicating broad interest and a solid foundation for jade collecting in the market.
Mr. Zhang Ming, a senior auction industry analyst, pointed out: "The success of this Poly Spring Auction's jade ware special session lies in its precise market positioning and adherence to a boutique strategy. In times of market volatility, collectors are more inclined to invest in works with clear artistic value, traceable provenance, and from renowned masters. Master-level jade carvings are not only works of art but also scarce resources and cultural symbols, and their value preservation and appreciation attributes are particularly prominent at present."
Ms. Li Hua, Secretary-General of the China Jade Culture Research Association, also stated: "The results of this auction send a positive signal that the charm of traditional Chinese jade carving art remains strong. Especially the works of contemporary jade carving masters, which integrate modern aesthetics on the basis of inheriting tradition, their artistic and collection value are being recognized and sought after by more and more collectors. In the future, we expect the market to continue to develop towards refinement and branding, and the value of master jade carvings will be further highlighted."
Despite numerous global economic uncertainties, the Chinese art market, particularly the traditional cultural art sector represented by jade ware, has demonstrated strong resilience. The success of this Poly Spring Auction undoubtedly injected a shot in the arm for the art market in the second half of the year. Market participants generally believe that with the gradual economic recovery and the continuous enhancement of cultural confidence, the collecting boom for high-quality jade carvings will continue to heat up, and their investment and artistic value will gain wider recognition. It is estimated that the market price of top master jade carvings will still have a steady growth potential of 10%-15% in the next two years.