【Hong Kong, November 15, 2026】Sotheby's Autumn 2026 auction concluded yesterday, achieving a total sales figure of an impressive US$1.25 billion, once again affirming the strong recovery of the global art market. Among them, the highly anticipated 'Important Chinese Art' sale performed exceptionally well, with a total sales value of US$380 million and a remarkable sell-through rate of 92%, far exceeding market expectations. Ancient jade bi, as a key highlight of this auction, became the focus of market pursuit due to its outstanding artistic value and scarcity, with several high-priced lots setting new auction records for similar artifacts.
The star lot of this auction, a 'Chi-Dragon Motif Celadon Jade Bi' from the Western Han Dynasty, hammered down at an astonishing US$58 million, significantly surpassing its pre-sale estimate of US$20-30 million, representing a staggering increase of 190%. This made it the top-selling lot of the entire auction. The jade bi, with its warm texture, exquisite craftsmanship, and vivid chi-dragon motifs, was in exceptionally well-preserved condition. Its rarity and historical significance made it a highly coveted treasure among collectors. Another 'Grain Pattern White Jade Bi' from the Spring and Autumn Period also fetched US$25 million, an increase of 150% compared to its pre-sale estimate of US$10-15 million. Furthermore, several archaic jade pieces from the Warring States to Han Dynasties, such as jade huang and jade cong, also performed strongly, with all selling above their high estimates and achieving an average increase of over 80%, demonstrating the sustained enthusiasm of the market for archaic jades.
Mr. Li Ming, a senior auction industry analyst, pointed out: "The data from this Sotheby's autumn sale clearly indicates that the demand for rare, high-quality art investments among high-net-worth individuals globally remains robust. Particularly, ancient Chinese jade, especially archaic jade, with its profound cultural heritage, exquisite craftsmanship, and limited extant quantities, has become a highly attractive investment target. The astonishing selling price of the Western Han Chi-Dragon Motif Celadon Jade Bi is not only a testament to its intrinsic value but also a strong affirmation by the market of the future appreciation potential of top-tier archaic jades."
Mr. Nicolas Chow, Chairman of Sotheby's Asia, stated after the auction: "We are very pleased with the results of this autumn sale. The performance of the Important Chinese Art sale, in particular, once again proves the important position of the Asian market in the global art landscape. Ancient jade bi, as a treasure of Chinese civilization, its market value is being recognized and sought after by an increasing number of international collectors. We anticipate that in the coming years, the archaic jade market will continue to maintain steady growth, and the prices of exquisite archaic jade pieces are expected to reach new highs."
From a market trend perspective, this auction further solidified the strong position of archaic jade in the collecting market. Collectors showed extremely high interest in jade pieces with clear provenance, excellent condition, and significant historical or cultural importance. Compared to modern and contemporary jade, archaic jade's non-renewable nature and deeper historical accumulation contribute to an increasingly prominent scarcity premium. At the same time, the gradual global economic recovery and concerns about inflation have also prompted some investors to shift funds towards physical assets such as art, aiming for value preservation and appreciation. It is expected that in the next few auction seasons, major auction houses will intensify their efforts to source archaic jade, market competition will become more intense, and the prices of exquisite archaic jade pieces are likely to continue to rise. However, investors should also be wary of market bubble risks and conduct thorough professional appraisals and market research before investing to avoid blindly following trends.