BEIJING, May 20, 2026 – The highly anticipated Poly 2026 Spring Art Auction concluded today in Beijing, achieving a total turnover of RMB 1.85 billion. The master jade carving works section, a major focus of the market, performed exceptionally well, achieving a staggering 92% sell-through rate and a total transaction value of RMB 420 million, becoming the biggest highlight of this spring sale and injecting a strong dose of confidence into the currently somewhat cautious art market.
This spring auction featured 28 special sessions, covering various categories including Chinese painting and calligraphy, ceramics and miscellaneous items, modern and contemporary art, and jewelry and watches. Despite the overall market still being in an adjustment period, the successful implementation of a boutique strategy led to a 78% sell-through rate for Poly's spring sale, an increase of 5 percentage points compared to the same period last year, demonstrating the market's sustained demand for high-quality artworks.
Master Jade Carving Session: Exquisite Pieces Emerge, Setting New Records
The master jade carving works session presented a total of 120 lots, with 8 pieces fetching prices exceeding RMB 10 million. The most striking piece was a white jade 'Peace and Prosperity' ornament created by contemporary jade carving master Wu Desheng, which, after nearly 20 rounds of fierce bidding, was finally hammered down at RMB 38 million, far exceeding its pre-sale estimate of RMB 25 million, achieving a premium rate of 52%. Another piece, a Hetian seed jade 'Guanyin' standing statue carved by master Yang Genlian, sold for RMB 26.5 million, an increase of 32% above its estimate. In addition, several ornaments and handheld pieces created by renowned jade artists such as Cui Lei and Ge Hong also sold for prices ranging from 15% to 40% above their estimates, demonstrating the market's high recognition of top-tier jade carving artworks.
Zhang Ming, head of Poly Auction's Chinese Works of Art Department, stated: "The success of this master jade carving session once again confirms the market's strong pursuit of rare and artistic jade carving masterpieces. In the current market environment, collectors are paying more attention to the artistic value, creative background, and brand effect of the master. We see that works with exquisite craftsmanship, superior jade quality, and unique cultural connotations can fully realize their value regardless of market fluctuations."
Market Analysis: Structural Recovery and Long-Term Trends
The data from this spring auction indicates that the art market is experiencing a structural recovery. While the general market still faces some pressure, the value resilience of top-tier masterpieces and works by renowned masters is strong, even showing an upward trend against the current. This reflects an increasingly mature collector base with more rational investment strategies, tending to invest capital in assets with clear value support and future appreciation potential.
Li Hua, a senior art market analyst, pointed out: "The jade carving market has maintained a steady growth momentum in recent years, especially among high-net-worth individuals. Jade carving works, as art pieces combining aesthetic, collection, and investment attributes, are becoming increasingly attractive. The success of this Poly spring sale suggests that the jade carving market will continue to be active and is expected to drive the further development of the entire craft sector. In the future, we expect the market to focus more on the rarity of the jade material, the exquisite level of carving craftsmanship, and the cultural implications embedded in the works."
Expert Commentary and Future Outlook
Wang Qiang, Vice President of the China Jewelry & Jade Industry Association, commented: "The outstanding performance of master jade carving works at this Poly spring sale not only boosted market confidence but also pointed the direction for the future development of the jade carving industry. Master-level creations are not only the pinnacle of skill but also the crystallization of culture and thought. With the increasing recognition of traditional culture and the pursuit of personalized, high-quality living, the market demand for jade carving artworks will remain strong. At the same time, we should also recognize that the market will place higher demands on the transparency of jade material sources, the originality of works, and the academic status of artists."
Looking ahead, with the steady development of the Chinese economy and the continuous growth of high-net-worth individuals, the art market, especially the market for exquisite jade carvings, will continue to have broad development space. The success of Poly Auction's spring sale undoubtedly set a positive tone for the second half of 2026's art market, indicating that market confidence will further consolidate and is expected to usher in more stable growth.