【Hong Kong, May 15, 2026】Christie's Hong Kong Spring 2026 Auction concluded successfully yesterday, achieving a total sales figure of HKD 1.25 billion, exceeding pre-sale estimates by 15%, with a sell-through rate of 88%. The highly anticipated 'Chinese Art' specialist sale was particularly outstanding, realizing HKD 380 million. Among these, the Hetian jade carving series became the focal point of the auction, injecting a much-needed boost into the long-sluggish jade market with its exceptional quality and stable market performance.
The star lot of this auction was a 'White Jade Carving of a Chilong Dragon' from the Qianlong period of the Qing Dynasty, which ultimately hammered for an astonishing HKD 38 million, far surpassing its pre-sale estimate of HKD 20 million, an increase of 90%. The jade is delicate and warm, with natural russet skin in parts, exquisite carving, and a vivid Chilong dragon motif, symbolizing auspiciousness, typical of imperial jade carvings from the Qianlong era. Another highly anticipated 'Hetian Jade Pebble Carving of a Mythical Beast' from the mid-Qing Dynasty also sold for HKD 22 million, an increase of 47% compared to its HKD 15 million estimate. Overall, a total of 25 Hetian jade carvings were offered in this auction, achieving a total sales figure of HKD 120 million, with a sell-through rate of 92%, and an average price per piece of HKD 4.8 million, fully demonstrating the strong demand in the high-end Hetian jade market.
Mr. Francis Chan, President of Christie's Asia and International Director of Chinese Art Department, stated in an interview: “The success of this Spring Auction, especially the outstanding performance of the Hetian jade carvings, clearly sends a signal that the global art market, particularly the Chinese art sector, is undergoing a positive adjustment and recovery. Collector demand for high-quality, clearly sourced, and culturally rich artworks remains strong. We are seeing the value of top-tier Hetian jade being re-recognized and affirmed.”
Professor Li Ming, a senior jade market analyst, pointed out: “In recent years, affected by macroeconomic fluctuations and market sentiment, the Hetian jade market experienced a period of adjustment. However, the data from this Christie's Spring Auction indicates that high-quality Hetian jade, especially ancient jade carvings with historical provenance and exquisite craftsmanship, possess strong resilience and are the first to rebound when the market recovers. This reflects collectors' pursuit of scarce resources and their confidence in the art market's ability to preserve and increase value. In the future, we expect the high-end Hetian jade market to continue its steady growth, while ordinary or poorly crafted jade may face greater market pressure, with a more pronounced polarization trend.”
In terms of buyer composition, the bidders for these Hetian jade carvings mainly came from Greater China, but private collectors from North America and Europe also actively participated, demonstrating continued international interest in traditional Chinese art. The activity of online bidding also significantly increased, with some high-value lots successfully sold through online bidding, signaling the deepening of the auction industry's digital transformation.
Looking ahead, with the gradual recovery of the global economy and the enhancement of cultural confidence, the investment and collection value of the Chinese art market, particularly traditional treasures represented by Hetian jade, will continue to stand out. The success of Christie's Spring Auction undoubtedly lays a solid foundation for the upcoming Autumn Auction market and brings positive expectations for the entire art market.