Poly Auction’s Strong Sales Signal Hong Kong Art Market Rebound

HONG KONG – April 17, 2026 – Poly Auction Hong Kong concluded its Spring 2026 auctions on a high note, achieving total sales of more than HKD 255 million. The robust results, marking a 23% increase from its 2025 Autumn Auctions, provide a strong indicator of renewed confidence and vigor in the city's high-end art market.

The successful season, which attracted bidders from over 17 countries, contributes to a broader narrative of recovery for Hong Kong's auction scene. After a period of contraction, major houses in the region are reporting stronger bidding and improved sell-through rates, suggesting that collector appetite is returning. This rebound is bolstered by a moderately expanding local economy and a recovering luxury property market, creating a favorable environment for high-value asset investment.

Six lots soared past the HKD 10 million mark, with two exceeding HKD 20 million, demonstrating that demand for top-tier works remains fierce. The season’s performance underscores Hong Kong’s enduring position as a critical global art hub, capable of attracting significant international capital despite a complex geopolitical landscape.

Modern Art and Jewels Lead the Charge

Two categories in particular showcased explosive growth, revealing key trends in collector tastes. The Modern and Contemporary Art department achieved sales of over HKD 76 million, a remarkable 63.6% jump from the previous autumn season. This surge was led by LIU WEI's provocative 1995 painting, You Like Pork?, which fetched HKD 27.6 million, making it the top lot of the entire auction series.

A seminal work from the artist's Cynical Realism period, the painting was first exhibited at the Venice Biennale in 1995. Its significant exhibition history and rarity—being the only one from its series currently on the market—cemented its status as a historically important piece, justifying the intense bidding and premium price. The sale highlights a market that continues to place immense value on works by established contemporary Asian artists with strong provenance.

Other major contemporary sales included ZAO WOU-KI's abstract masterpiece 15.07.67, which realized HKD 12 million, and WU DAYU's vibrant Rhymes of Beijing Opera, selling for HKD 11.16 million. These results affirm a sustained appetite for museum-quality works that represent pivotal moments in Chinese modern art history.

Equally impressive was the 77.6% growth in the Jewels, Watches and Handbags department, which totaled more than HKD 44 million. The leading lot, the "Emerald Radiance" Jadeite Bead, Ruby and Diamond Necklace, sold for HKD 14.4 million. Composed of 38 large, finely matched natural jadeite beads, the necklace is a prime example of a category highly prized in the Asian market for its material rarity and cultural significance. The strong performance of this department signals renewed strength in the high-end personal luxury market, where discerning collectors seek out wearable art of exceptional quality.

Imperial Treasures and Historic Paintings Draw Bidders

While modern works and luxury goods showed powerful momentum, the market for traditional Chinese art proved equally resilient. The three sales dedicated to Chinese Ceramics and Works of Art together realized more than HKD 110 million, demonstrating the deep-seated demand for imperial and historical artifacts.

A standout was The Blue and White 'Grapes' Foliate-Rim Dish from the Ming Dynasty's Yongle Period, which sold for an impressive HKD 24.6 million. Measuring 45 cm in diameter, the dish is a monumental example of early Ming imperial blue-and-white porcelain, celebrated for its vibrant Sumaliqing cobalt and masterful execution. Its distinguished provenance, including the famed Eskenazi collection, added to its allure, attracting fierce competition.

Further demonstrating the depth of this category, a Large Sancai-Glazed Pottery Group of a Caparisoned Horse and Groom from the Tang Dynasty, hailing from The Tsui Museum of Art Collection, commanded HKD 10.8 million. The ensemble’s exceptional preservation, vivid glazing, and powerful sculptural form represent the pinnacle of High Tang ceramic artistry, and its sale confirmed the market’s willingness to pay a premium for rarity and condition.

The Chinese Paintings and Calligraphy sale also delivered notable results. XU BEIHONG's Standing Horse sold for HKD 4.8 million, a price driven by its unique historical significance. As the only known work the artist dedicated to the 'Young Marshal' Zhang Xueliang, painted during Zhang's confinement in 1942, the piece transcends simple genre painting to become a poignant historical document.

International Bidding and Strategic Depth

The success of the auction series was not limited to just the top lots. The overall market depth was evident, with 119 lots selling above their high estimates and 29 pieces achieving more than five times their low estimates. A clear example of this competitive energy was seen when a Song Dynasty Yingqing Archaistic 'Phoenix' Vase sparked a bidding war. After 34 bids, it sold for HKD 1,176,000, more than eight times its low estimate, showcasing collectors' determination to acquire unique pieces with historical appeal.

The presence of collectors from more than 17 countries highlights Hong Kong's sustained role as an essential crossroads for the global art trade. High-net-worth individuals, particularly from across Asia, are increasingly viewing art as a stable alternative asset class, driving demand for quality and rarity. Poly Auction's results reflect a strategic success in curating sales that appeal to this diverse and sophisticated international client base, balancing academic value with market appeal across multiple price points.

The strong performance across all major categories—from ancient ceramics to contemporary paintings and luxury jewels—paints a picture of a healthy, multi-faceted market. As collectors become more selective, the focus on quality, provenance, and historical significance that defined this season's top sales will likely continue to shape the landscape of the art market in Asia and beyond.