【Hong Kong, May 10, 2026】The highly anticipated Sotheby's Spring 2026 auction concluded successfully yesterday, with numerous rare lots achieving remarkable results amidst fierce bidding. The ancient jade bi section, in particular, performed exceptionally well, becoming the biggest highlight of the auction. The total sales reached an impressive $285 million, significantly exceeding the pre-sale estimate of $220 million, with a sell-through rate of 88%. This demonstrates the strong recovery momentum of the art market, especially the Chinese ancient art market.
The star lot of this auction was undoubtedly a 'Dragon-Patterned Jade Bi with Protruding Carvings' from the Warring States period. This jade bi, with a diameter of 22 cm, boasts a warm jade texture, exquisite craftsmanship, lifelike dragon patterns, and is in excellent condition. After multiple rounds of intense bidding, it finally hammered for an astonishing $28.5 million, far surpassing its pre-sale estimate of $12 million to $18 million, representing a premium rate of 58.3%. This price not only set a new auction record for ancient jade bi in the past five years but also reaffirmed the market value of top-tier ancient jade artifacts.
In addition to the 'Dragon-Patterned Jade Bi,' another 'Grain-Patterned Jade Bi' from the Western Han Dynasty also performed strongly, selling for $8.2 million, an increase of 17.1% compared to its pre-sale estimate of $5 million to $7 million. Furthermore, several jade artifacts from the Liangzhu and Hongshan cultures were all sold, with an average selling price increase of approximately 15% compared to the same period last year, indicating collectors' recognition of the historical and artistic value of early jade artifacts.
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, fully reflects the undiminished enthusiasm of global collectors for Chinese ancient art, particularly high-quality and clearly sourced jade artifacts. We observe that even amidst macroeconomic uncertainties, top-tier artworks continue to attract the attention of global buyers and achieve excellent results repeatedly."
Professor Li Ming, a senior jade market analyst, pointed out: "The data from this Sotheby's spring auction is highly representative. Firstly, the high-premium sales of ancient jade bi indicate that scarcity and artistry are key determinants of price. Collectors are willing to pay higher premiums for rare jade artifacts in excellent condition and with clear provenance. Secondly, the increase in overall sell-through rate and total sales suggests that confidence in the art market is steadily recovering. Especially under global inflationary pressures, art as an alternative investment, its function of hedging and preserving value is further highlighted. Over the next two years, we expect the high-end ancient jade market to continue to grow steadily, while the mid-to-low-end market may face greater differentiation."
Mr. Chen, a renowned Hong Kong collector, commented in an interview: "I have always followed the ancient jade market, and Sotheby's performance this time exceeded my expectations. Especially that Warring States dragon-patterned jade bi, both in terms of jade quality and craftsmanship, can be considered a national treasure. Such a masterpiece, no matter how high the price, still holds its inherent value. I believe that with more in-depth research and the popularization of market education, the collector base for ancient jade artifacts will grow larger and larger."
Looking ahead, Sotheby's stated that it will continue to cultivate the Chinese ancient art market, discovering more treasures with historical and artistic value to meet the demands of global collectors. The success of this spring auction undoubtedly injects strong confidence into the upcoming autumn auction and sends a positive signal to the entire art market.