【Hangzhou, May 18, 2026】Xiling Yinshe's 2026 Spring Auction concluded successfully yesterday, with the highly anticipated 'Da Fang Wu Yu – Ancient Jade Session' performing remarkably. The session achieved a total turnover of RMB 185 million, with an impressive sell-through rate of 82.5%, indicating that the high-end ancient jade market, after a period of adjustment, is gradually returning to rationality and stability. The auction presented 120 carefully selected ancient jade treasures, attracting fierce bidding from numerous experienced collectors and institutions both domestically and internationally.
High-Ancient Jades Show Strong Performance, Exquisite Pieces Emerge
In this ancient jade session, high-ancient jades were undoubtedly the biggest highlight. A 'Hongshan Culture Jade Pig Dragon', estimated at RMB 28 million to RMB 35 million, sold for a hammer price of RMB 42.5 million. With buyer's premium, the final transaction price reached RMB 48.875 million, an appreciation rate of over 39%, making it the highest-priced lot of the session. This jade pig dragon features a full form, natural patina, and rich luster, embodying the typical characteristics and extremely high artistic value of Hongshan culture jade. Another 'Warring States Period Celadon Jade Bi Disc with Dragon Motif' started at RMB 18 million and, after multiple rounds of bidding, finally sold for RMB 29.9 million, nearly 20% higher than its upper estimate of RMB 25 million. Its exquisite carving and clear dragon motif showcase the craftsmanship of the peak period of Warring States jade.
Han Dynasty jades also performed well. A 'Han Dynasty White Jade Belt Hook with Chi Dragon Motif' sold for RMB 8.5 million, exceeding its upper estimate of RMB 6 million by approximately 41%. Its warm jade quality and vivid chi dragon shape were highly favored by collectors.
Market Analysis: Rational Return and Value Reassessment
Mr. Li Ming, Head of the Ancient Jade Department at Xiling Yinshe Auction Co., Ltd., stated in an interview: "The success of this ancient jade session reflects the market's continued strong demand for high-quality, clearly sourced, and well-provenanced ancient jade artifacts. Especially in the context of increasing economic uncertainty, collectors are more inclined to invest in hard assets with scarcity and cultural value. High-ancient jades, due to their non-renewable nature and profound historical and cultural connotations, are becoming a preferred choice for risk aversion and asset allocation."
From the data, the average premium rate of this auction was approximately 25%, which, compared to the often double-digit premiums during the irrational boom of previous years, indicates that the market is maturing and becoming more rational. Collectors are more cautious in their bidding, focusing more on the actual value and future appreciation potential of the lots, rather than blindly chasing high prices. The increased unsold rate of mid-to-low-end common jade items also confirms this trend.
Expert Commentary: Cultural Value and Collection Threshold
Professor Zhang, a renowned jade appraisal expert and member of the Jade Professional Committee of the China Cultural Relics Society, pointed out: "The results of Xiling Yinshe's spring auction ancient jade session are encouraging. The record-breaking transaction prices of high-ancient jades are not only a reflection of their artistic value but also a return to the value of the Chinese civilization history they embody. However, the threshold for ancient jade collection remains high, with strict requirements for collectors' professional knowledge,鉴赏 ability, and financial strength. It is recommended that new collectors learn more, communicate more, and acquire items from reliable sources to avoid blindly following trends and mitigate risks."
Future Trend Outlook
Looking ahead, the ancient jade market is expected to continue its steady growth. High-ancient jades, especially exquisite pieces with clear dating, superb craftsmanship, and unique cultural connotations, will remain the focus of market pursuit. At the same time, with the growing interest of the younger generation of collectors in traditional culture and the application of technology in appraisal, the popularity of ancient jade collection is expected to further increase. However, the overall market will place greater emphasis on quality and value, and speculative炒作 space will be further compressed. Xiling Yinshe will continue to uphold a rigorous academic attitude and professional service spirit to provide collectors with more exquisite ancient jades, contributing to the inheritance and development of traditional Chinese culture.