The L&H Autumn Auction 2025 concluded successfully on 30 November, with collectors and tea connoisseurs showing steady and thoughtful participation across both the saleroom and online platforms. L&H extends its sincere appreciation to every client and supporter who joined us this season.
"Vintage Pu-er Tea and Premium Tea Auction" featured a well-curated selection of rare historic vintages, including the first-ever appearance of the Century-Old Original-Stack Red Mark Song Pin Hao and Gan Li Zhen Song Pin Hao, renowned Hao-grade and Yin-grade classics, mid-term staples, and promising tea bricks. The balanced and diverse line-up drew strong interest from collectors worldwide.
One of the cover lots—the Century-Old Original-Stack Red Mark Song Pin Hao—was among the most closely watched pieces of the season. Its significance, exceptional rarity, and original-stack preservation contributed to a landmark result that underscores the continued confidence in antique Pu-er as a cultural and collectible asset.
Henry Chau, CEO and Founder of L&H Auction, expressed, "We are deeply grateful to everyone who continues to stand with L&H. Culture preserves the memory of a city, and tea carries the warmth that connects people. We remain committed to advancing research, collection, and the broader appreciation of Pu-er culture with professionalism, dedication, and respect."
【Key Highlights】
Featured Lots
Three signature lots were particularly notable this season, including two debut appearances that carry meaningful market significance.
- LOT 150
- A Stack of Song Pin Hao Pu-er Tea Cakes (Red Inner Ticket), 1917-1930
- Sale Price：HK$ 21,355,000
- LOT 154
- A Piece of Qian Li Zhen Song Pin Hao Pu-er Tea Cake (Red Inner Ticket), Late Qing Dynasty
- Sale Price：HK$ 1,775,000
- LOT 126
- A Stack of Early Red Mark Pu-er Tea Cakes, Circa 1950s
- Sale Price：HK$ 5,830,000
Hao-Grade & Yin-Grade Classics
Century-old Hao Grade and half-century-old Yin Grade teas continued to anchor the market, drawing consistent attention and delivering steady results.
- LOT 152
- A Stack of Red Mark Pu-er Tea Cakes without Wrapper, Circa 1950s
- Sale Price：HK$ 2,243,000
- LOT 149
- A Piece of Ke Yi Xing Pu-er Tea Brick, Circa 1930s
- Sale Price：HK$ 737,800
Mid-Term Pu-er
Well-preserved mid-century teas continued to draw stable demand from collectors and seasoned drinkers alike.
- LOT 132
- 2 Stacks of 8582 Pu-er Tea Cakes in Thick Wrapper, Circa 1980s
- Sale Price：HK$ 1,833,500
Tea Brick
Appearing in their rare original box, these highly anticipated Pu-er tea bricks reveal exceptional potential.
- LOT 182
- 350 Pieces of 92 Pu-er Tea Brick, Circa Late 1980s/Early 1990s
- Sale Price：HK$ 2,243,000
Event Highlights
The cover lot of L&H 2025 Autumn Auction—A Stack of Song Pin Hao Pu-er Tea Cakes (Red Inner Ticket) , 1917-1930—made its debut at auction and was sold at HK$21,355,000.
A Piece of Qian Li Zhen Song Pin Hao Pu-er Tea Cake (Red Inner Ticket), Late Qing Dynasty, made its auction debut and was sold at HK$1,775,000.
A Stack of Early Red Mark Pu-er Tea Cakes, Circa 1950s was sold at HK$5,830,000.
Collectors attended the preview to appreciate the pieces firsthand.
The preview drew steady visits from tea community supporters and collectors alike.
