Warring States Jade Bi Disc Sells for High Price at Bonhams Auction, Ancient Jade Market Outlook Positive

On January 11, 2026, at a highly anticipated auction held by Bonhams, a "Late Warring States Period Celadon Jade Bi Disc with Grain Pattern" sold for an astonishing hammer price of RMB 6,512,614, significantly exceeding the lower end of its estimated range of RMB 4,691,448 - 9,382,896. This once again confirms the strong vitality and immense potential of the Chinese ancient jade market, especially the sector of early jade. Lot 9038, which was successfully auctioned, is not only an exquisite work of art but also a precious relic carrying profound historical and cultural heritage. Its successful sale undoubtedly injected a strong boost into the entire ancient jade market.

#### Item Analysis: The Artistic and Historical Value of the Warring States Jade Bi Disc

The superb craftsmanship and deep historical background of the Warring States jade bi disc were key to its high price. The Warring States period was a peak in the history of Chinese jade development, where jade articles were not only made of superior materials but also reached unprecedented levels of craftsmanship. The grain pattern, a classic motif on Warring States jade bi discs, symbolizes abundant harvests and endless vitality, reflecting people's yearning for a better life and reverence for nature at that time. The celadon jade of this bi disc is warm and lustrous, with natural localized inclusions and a rich patina, all demonstrating its enduring charm after millennia. Its diameter of 21.5 cm is also relatively large among similar artifacts, further highlighting its rarity. From a historical perspective, Warring States jade bi discs were not only symbols of aristocratic status but also important objects in sacrificial and ritual activities, carrying rich social and cultural information. Its existence provides valuable physical evidence for our study of the politics, economy, culture, and art of the Warring States period.

#### Market Analysis: The Return of Value and Investment Trends in Early Jade

In recent years, with changes in the global economic landscape and the enhancement of cultural confidence, the Chinese art market has shown a diversified development trend. Among them, the early jade sector, with its non-renewable nature and unique historical and cultural value, has gradually become a focus for collectors and investors. The high price achieved by this Warring States jade bi disc is not accidental but a collective recognition by the market of its scarcity, artistic, and historical value. From Bonhams' estimated range for this auction, the market already had high expectations for the value of this bi disc, and the final hammer price reflects buyers' strong demand and reluctance to sell such top-tier early jade.

Key factors influencing the early jade market include:

  • Scarcity: Limited in quantity, mostly owned by museums or important private collectors, with poor liquidity.

  • Historical and Cultural Value: Carries early historical information of Chinese civilization, possessing irreplaceable research value.

  • Aesthetic Value: Simple and elegant shapes and exquisite craftsmanship align with modern aesthetic trends.

  • International Recognition: As Chinese culture's influence grows globally, the international market recognition of early jade is also continuously increasing.


Looking ahead, the early jade market will continue to maintain steady growth. With the involvement of more professional institutions and experienced collectors, as well as in-depth academic research, the value of early jade will be more fully explored and reflected. However, investors entering the early jade market should also be cautious, focusing on the authenticity, condition, provenance, and cultural connotations of the items, avoiding blind speculation. Professional appraisal knowledge and accurate judgment of market trends will be key to success.

#### Auction House Strategy and Market Outlook

Bonhams' successful auction of the Warring States jade bi disc also demonstrates its precise positioning and professional operational capabilities in the global art market. Through strict selection, meticulous verification, and global promotion of the items, Bonhams effectively attracted the attention of high-net-worth collectors and institutions. In the future, with the continuous development of the Chinese economy and the upgrading of cultural consumption, it is expected that more high-quality Chinese artworks will enter the international auction market. Early jade, as an important part of this, its market performance deserves continuous attention. At the same time, the application of technological means in authentication and traceability will also bring new development opportunities to the early jade market, further enhancing market transparency and trust.