OGP | Collectors' Recommendations
Feb 20, 2026
In 2026, the core value of Asian art will become even more concentrated through market selection. Capital will pursue collections characterized by clear provenance, top-tier quality, strong rarity, and clearly defined cultural symbolism to ensure value preservation. Structurally, this reflects a more mature and rational market environment. For collectors, the key question is not whether the market is “hot,” but whether they possess truly irreplaceable artistic and cultural assets.
Looking back at 2025, Sotheby’s Asian Art division marked a year of renewed market leadership. More broadly, international auction houses conveyed a clear structural message: high-end Asian art is moving beyond the post-pandemic contraction and transitioning into a phase defined by quality-driven recovery.
Sotheby’s global sales of Asian Art exceeded US$346 million, with overall performance characterized by “high-end concentration and structural divergence.” The Hong Kong autumn sales series recorded HK$1.4 billion in total, of which three dedicated Asian Art auctions alone realized HK$1.17 billion — the strongest performance in nearly twelve years. The inaugural sales series at the New York headquarters reached US$1.17 billion, marking the highest season since 2021. Several key indicators deserve attention: the highest number of new buyers in 14 years; global bidding participation from 20 regions; multiple white-glove sales (100% sell-through); and numerous works achieving multiples above their high estimates. This was not a broad-based market surge, but a typical manifestation of “premium pricing for high-quality assets.”
The handscroll Cursive Script of Han Yu and Liu Zongyuan’s Prose by Yuan dynasty calligrapher Rao Jie underwent 95 minutes of bidding and more than 200 bids before ultimately selling for HK$250 million, establishing the record for the most expensive Chinese calligraphy ever sold at Sotheby’s. The sale not only set a price record but also marked the longest bidding session in Sotheby’s Hong Kong history. Qing imperial kiln porcelains, long the first choice of collectors, continued to exceed estimates, particularly famille-rose and blue-and-white wares from the Yongzheng and Qianlong periods. For example: an exquisite famille-rose tianqiuping vase decorated with peonies, magnolia and peach blossoms from the reign of Yongzheng rose to US$2.61 million; a Qing dynasty Yongzheng period blue and white yuhuchunping vase achieved £622,300 in London, ten times its estimate; and a Qianlong copper-red and underglaze-blue ‘dragon’ tianqiuping realized HK$29.65 million. Early bronzes and Buddhist art also attracted international buyers. The Ya Yi fanglei – a rare surviving relic from one of the most prominent clans in the late Shang dynasty – sold for HK$38.8 million, twenty times its estimate. A magnificent large gilt copper alloy figure of Shakyamuni Buddha, Central Tibet, 14th century, realized nearly US$3 million, five times its pre-sale estimate. An extremely rare sancai-glazed hawk-form ewer, Tang dynasty, 8th century, sold for HK$22.94 million, twenty-three times its estimate. Against a post-pandemic backdrop in which nine-figure results had been scarce, these landmark sales were widely regarded as a symbolic return of market confidence.
In addition, from the sale Masterpieces of Asian Art from the Okada Museum of Art, Katsushika Hokusai’s Under the Wave off Kanagawa (Kanagawa-oki nami-ura) sold for HK$21.72 million, setting a new auction record for the print. Kitagawa Utamaro’s monumental Fukagawa in Snow (Fukagawa no Yuki) achieved HK$55.27 million, establishing a new record for a ukiyo-e painting at auction. This demonstrates that Japanese art is no longer merely a supplementary category, but has become one of the important growth engines within high-end Asian art.
From the perspective of buyer selection, Masterpieces of Asian Art from the Okada Museum of Art achieved HK$688 million, with over 70% of lots exceeding their high estimates and setting two Japanese art records. Masterpieces of Chinese Ceramics from the Ise Collection realized HK$359 million with a 99.5% sell-through rate. In an environment of economic uncertainty, buyers increasingly rely on “provenance security.” Works with complete and distinguished ownership histories command clear premiums. This aligns with the current asset allocation trend among global high-net-worth individuals — prioritizing quality and verifiability over quantity.
The Asian art market in 2025 did not experience a comprehensive recovery, but rather entered a phase of “selective prosperity,” a condition likely to remain the norm over the next one to two years. High-end concentration intensified, with nine-figure results reappearing, while the mid- and lower-tier segments continued to diverge. Asian collectors returned to the market, and active bidding in Hong Kong signaled renewed regional capital participation. Estimate strategies became more conservative, with cautious low estimates encouraging competitive bidding expansion. Online bidding has become standard practice, with participation from collectors across 20 global regions demonstrating the maturity of digital channels.