【Hong Kong, May 18, 2026】Sotheby's Spring 2026 auction concluded successfully yesterday, achieving a remarkable total sale of $250 million, exceeding its pre-sale estimate by 15% with a high sell-through rate of 88%. The Chinese Works of Art section, in particular, performed exceptionally well, with several rare ancient jade bi pieces fetching prices significantly above their estimates, demonstrating strong market demand for high-quality ancient jade and collectors' growing investment enthusiasm.
Undoubtedly, the highlight of this auction was Lot 108, a 'Warring States Period White Jade Grain-Pattern Bi'. This bi, with a diameter of 22 cm, features a warm and delicate jade texture, meticulously arranged grain patterns, and exquisite craftsmanship. After multiple rounds of intense bidding, it was finally hammered at an astonishing price of $18.5 million, far surpassing its pre-sale estimate of $8 million to $12 million, an impressive premium of 54%. This sale price not only set a new auction record for similar jade bi in the past five years but also became the highest-selling lot of this spring auction. Another piece, a 'Western Han Dynasty Green Jade Dragon-Pattern Bi' (Lot 123), with a diameter of 18 cm, regular shape, and vivid dragon carvings, sold for $6.2 million, an appreciation of 24% compared to its estimate of $3 million to $5 million.
Mr. Nicolas Chow, Chairman of Sotheby's Asia, stated after the auction: "The success of this spring sale, especially the outstanding performance of the ancient jade bi section, once again confirms the safe-haven attribute and investment value of top-tier artworks amidst global economic uncertainties. We observed that collectors showed extremely high enthusiasm and confidence for rare ancient jades with clear provenance, excellent condition, and well-documented history."
From a broader market perspective, the data from this spring auction sends positive signals. The significant increase in total sales and the high sell-through rate indicate that the art market is steadily recovering after experiencing global economic fluctuations in the past two years. The Chinese art market, in particular, with its profound cultural heritage and scarcity, has attracted buyers worldwide. Ancient jade bi, as an important carrier of traditional Chinese culture, its unique historical, cultural, and artistic value makes it a hot spot for collection and investment.
Mr. Zhang Ming, a senior jade connoisseur and independent market analyst, pointed out: "The transaction data for jade bi is inspiring. High-priced jade bi generally possess several characteristics: first, superior jade quality, warm and lustrous; second, ancient age with clear dating evidence; third, exquisite patterns and superb craftsmanship, reflecting the highest artistic level of their time; fourth, well-documented provenance with reliable collection records. These factors collectively determine their market value. In the coming years, we expect high-quality ancient jade bi to maintain steady appreciation potential, especially museum-grade treasures, whose scarcity will further drive up their market prices."
However, Mr. Zhang Ming also reminded collectors to be wary of fakes and excessive speculation as the market recovers. He advised: "Investors should enhance their professional knowledge, communicate more with senior experts, and choose reputable auction houses and galleries for transactions to ensure the authenticity and value of their collections."
Looking ahead, with the gradual stabilization of the global economy and the continuous growth of wealth in Asia, the Chinese art market, especially the ancient jade market, is expected to usher in new development opportunities. The success of Sotheby's spring auction undoubtedly injected strong confidence and momentum into the art market for 2026 and beyond.