【Hong Kong, May 18, 2026】Sotheby's Hong Kong Spring 2026 auction concluded successfully yesterday, with the 'Important Chinese Art' sale performing exceptionally well. The highly anticipated archaic jade section, particularly several ancient jade bi discs, once again affirmed its solid position in the collecting world due to its exquisite craftsmanship, profound historical significance, and rarity. The total transaction value of this auction reached HKD 1.25 billion, with a high sell-through rate of 88%, demonstrating strong market demand for top-tier artworks.
The undisputed highlight of this auction was a Warring States period 'Celadon Jade Bi with Grain Pattern and Outlined Dragon and Phoenix Motifs'. This bi, with a diameter of 25.8 cm, boasts a warm jade texture and superb carving. The grain patterns are meticulously arranged, and the outlined dragon and phoenix motifs are vivid and lifelike, with the piece preserved in excellent condition. After multiple rounds of fierce bidding, it finally hammered for HKD 180 million, far exceeding its pre-sale estimate (HKD 80 million - 120 million), achieving a premium rate of 125%. It became the highest-selling lot of this auction and set a new auction record for ancient jade bi discs in the past five years. Another Western Han Dynasty 'White Jade Bi with Rush Pattern' also performed remarkably, selling for HKD 45 million, 50% higher than its estimate. Overall, the archaic jade section achieved a total transaction value of HKD 320 million, a 15% increase compared to the same period last year, with a sell-through rate of 95%.
Mr. Li Ming, a senior jade market analyst, pointed out: "The outstanding performance of archaic jade at this Sotheby's Spring Auction, especially the record-breaking prices for ancient jade bi discs, is not coincidental. It reflects the deep recognition of the value of traditional Chinese cultural artifacts by top global collectors, as well as the attractiveness of art as a safe-haven asset amidst current global economic uncertainties. Particularly, ancient jade bi discs in excellent condition, with clear provenance and exquisite craftsmanship, their rarity determines their long-term appreciation potential." He further analyzed that the ritual culture, cosmic concepts, and superb jade carving techniques embodied in Warring States and Han Dynasty jade bi discs give them a unique position in art history and collecting history, making them irreplaceable cultural heritage.
Ms. Wang Li, Head of Chinese Works of Art at Sotheby's Asia, stated after the auction: "We are very pleased with the results of this spring auction. The strong performance of the ancient jade bi section, in particular, exceeded our expectations. This once again proves the immense global appeal of top-tier archaic jade. We have observed a growing interest in archaic jade among new collectors, who not only focus on artistic value but also appreciate its historical and cultural connotations. In the future, Sotheby's will continue to deepen its presence in this field, bringing more rare Chinese artworks to collectors."
From a market trend perspective, the archaic jade market is experiencing a steady upward cycle. Although the overall art market occasionally fluctuates, the prices of archaic jade, especially fine pieces with clear dating, excellent preservation, and unique artistic styles, have remained strong. The success of this auction will undoubtedly further boost market confidence and attract more capital inflow. It is expected that in the coming years, with the continuous expansion of China's cultural influence and the increasing awareness of Eastern art among global collectors, the archaic jade market, particularly the ancient jade bi sub-segment, will maintain strong growth momentum, and its investment and collection value will continue to be highlighted. However, market participants also remind that the authentication of archaic jade is challenging, and it is crucial for collectors to exercise caution when entering the market and seek advice from professional institutions and experts.