The longest bull run in a century of art-market history ended on a dramatic note with a sale of 56 works by Damien Hirst, Beautiful Inside My Head Forever, at Sotheby’s in London on September 15th 2008. All but two pieces sold, fetching more than ￡70m, a record for a sale by a single artist. It was a last victory. As the auctioneer called out bids, in New York one of the oldest banks on Wall Street, Lehman Brothers, filed for bankruptcy, starting the most severe financial crisis since the 1920s.

The world art market had already been losing momentum(势头) for a while after rising confusingly since 2003. At its peak in 2007 it was worth some $65 billion, thinks Clare McAndrew, founder of Arts Economics, a research firm — double the figure five years earlier. Since then it may have come down to $50 billion. But the market generates interest far beyond its size because it brings together great wealth, enormous egos(自负), greed, passion and controversy in a way matched by few other industries.

In the weeks and months that followed Mr. Hirst’s sale, spending of any sort became deeply unfashionable. In the art world that meant collectors stayed away from galleries and salerooms. Sales of contemporary art fell by two-thirds, and in the most overheated sector, they were down by nearly 90% in the year to November 2008. Within weeks the world’s two biggest auction houses, Sotheby’s and Christie’s, had to pay out nearly $200m in guarantees to clients who had placed works for sale with them.

The current downturn in the art market is the worst since the Japanese stopped buying Impressionists at the end of 1989. This time experts suppose that prices are about 40% down on their peak on average, though some have been far more volatile (动荡的). But Edward Dolman, Christie’s chief executive, says, “I’m pretty confident we’re at the bottom.”

What makes this fall different from the last, he says, is that there are still buyers in the market, while in the early 1990s, when interest rates were high, there was no demand even though many collectors wanted to sell. Christie’s earnings in the first half of 2009 were still higher than in the first half of 2006. Almost everyone who was interviewed for this special report said that the biggest problem at the moment is not a lack of demand but a lack of good work to sell. The three Ds — death, debt and divorce — still deliver works of art to the market. But anyone who does not have to sell is keeping away, waiting for confidence to return.

67. In the first paragraph, Damien Hirst’s sale was referred to as “a last victory” because _______.

A. the art market had witnessed a succession of victories

B. the auctioneer finally got the two pieces at the highest bids

C. Beautiful inside My Head Forever won over all masterpieces

D. it was successfully made just before the world financial crisis

68. Which of the following statements is true?

A .Sales of contemporary art fell dramatically from 2003 to 2008.

B. The art market didn’t match many other industries in momentum.

C. The market generally went downward in the same way.

D. Some art dealers were awaiting better chances to come.

69. The three Ds mentioned in the last paragraph are _________ .

A. auction houses’ favorites　                     B. contemporary trends　

C. factors promoting artwork circulation       D. styles representing impressionists

70. What is mainly discussed in the passage?

A. Art market in decline.　                           B. Up-to-date art auctions.

C. Volatility of art prices.　　　                  D. Shifted interest in arts.

As she walked round the large shop, Edith realized how difficult it was to choose a suitable Christmas 16 for her father.
She 17 that he were as easy to please as her mother, who was 18 satisfied with perfume(香水). 19, shopping at this time of the year was not a most 20 job. People 21 on your feet, pushed you with their shoulders and almost 22 you over in their hurry in order to 23 something cheap ahead of you.
Partly to have a rest, Edith paused in front of a counter, where some beautiful ties were on 24. "They are 25 silk," the shop assistant told her with a smile trying to 26 her to buy one. But Edith knew from past 27 that her choice of ties hardly ever pleased her father.
She moved on slowly and then, quite by chance, 28 where a small crowd of men had gathered round a counter. She found some fine pipes on sale and the 29 were very beautiful. Edith did not hesitate for long, although her father 30 smoked a pipe once in a while, she believed this was 31 to please him.
When she got home, with her small but 32 present hidden in her handbag, it was time for supper and her parents were already 33 table. Her mother was in great 34. "Your father has at last decided to stop smoking," she told her daughter happily. Edith was so 35 that she could not say a single word.

As she walked round the large shop, Edith realized how difficult it was to choose a suitable Christmas 16 for her father.

She 17 that he were as easy to please as her mother, who was 18 satisfied with perfume(香水). 19, shopping at this time of the year was not a most 20 job. People 21 on your feet, pushed you with their shoulders and almost 22 you over in their hurry in order to 23 something cheap ahead of you.

Partly to have a rest, Edith paused in front of a counter, where some beautiful ties were on 24. "They are 25 silk," the shop assistant told her with a smile trying to 26 her to buy one. But Edith knew from past 27 that her choice of ties hardly ever pleased her father.

She moved on slowly and then, quite by chance, 28 where a small crowd of men had gathered round a counter. She found some fine pipes on sale and the 29 were very beautiful. Edith did not hesitate for long, although her father 30 smoked a pipe once in a while, she believed this was 31 to please him.

When she got home, with her small but 32 present hidden in her handbag, it was time for supper and her parents were already 33 table. Her mother was in great 34. "Your father has at last decided to stop smoking," she told her daughter happily. Edith was so 35 that she could not say a single word.