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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font face="Arial" size=2>As filed with the Securities and Exchange Commission on  May  9, 2006</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font face="Arial" size=2>&nbsp;</font></p>

<p align="right"><font face="Arial" size=2> Registration No. 333-_____</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font face="Arial" size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font face="Arial" size=2>________________________________________________________________________</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font face="Arial" size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font FACE="ARIAL" SIZE=2>SECURITIES AND EXCHANGE COMMISSION</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font FACE="ARIAL" SIZE=2>WASHINGTON, D. C.  20549</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font face="Arial" size=2>__________________________________________</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font face="Arial" size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font FACE="ARIAL" SIZE=3>FORM S-8</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font face="Arial" size=3>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font FACE="ARIAL" SIZE=2>REGISTRATION STATEMENT</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font face="Arial" size=2>Under</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font FACE="ARIAL" SIZE=2>THE SECURITIES ACT OF 1933</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font face="Arial" size=2>__________________________________________</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font face="Arial" size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font FACE="ARIAL" SIZE=3>SOTHEBY'S HOLDINGS, INC.</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font face="Arial" size=2>(Exact name of registrant as specified in its charter)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font face="Arial" size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font face="Arial" size=2>&nbsp;</font></p>


<table width="100%" border="0" cellpadding=0 cellspacing=0 style='border-collapse:collapse'>
  <tr >
    <td nowrap valign=top > <p align="center"><font face="Arial" size=2>Michigan<br>
        (State or other jurisdiction of incorporation or organization)</font><font size=1>&nbsp;</font><font face="Arial" size=2>
        </font></p></td>
    <td nowrap valign=top > <p align="center" ><font face="Arial" size=2>38-2478409<br>
        </font><font size=1>&nbsp;</font><font face="Arial" size=2>(I.R.S. Employer
        Identification Number)</font><font face="Arial" size=2> </font></p></td>
  </tr>
</table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font face="Arial" size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font face="Arial" size=2>38500 Woodward Avenue, Suite 100</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font face="Arial" size=2>Bloomfield Hills, Michigan  48304</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font face="Arial" size=2>(Address of principal executive offices)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font face="Arial" size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font FACE="ARIAL" SIZE=2>SOTHEBY'S HOLDINGS, INC. </font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font FACE="ARIAL" SIZE=2>AMENDED AND RESTATED RESTRICTED STOCK  PLAN</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font face="Arial" size=2>(Full title of the plan)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font face="Arial" size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font face="Arial" size=2>__________________________________________</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font face="Arial" size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font face="Arial" size=2>Donaldson C. Pillsbury</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font face="Arial" size=2>Executive Vice President, Worldwide General Counsel and Secretary</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font face="Arial" size=2>Sotheby's, Inc.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font face="Arial" size=2>1334 York Avenue</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font face="Arial" size=2>New York, New York  10021</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font face="Arial" size=2>(212)  606-7000</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font face="Arial" size=2>(Name and address of agent for service)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font face="Arial" size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font face="Arial" size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font face="Arial" size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font face="Arial" size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font face="Arial" size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font face="Arial" size=2>&nbsp;</font></p>
<br>
<HR noshade align="center" width="100%" size="2">
<p style='page-break-before:always'></p>
<PAGE><p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font FACE="ARIAL" SIZE=2>CALCULATION OF REGISTRATION FEE</font></B></p>

<p style=' margin-bottom:4.5pt; margin-top:0pt;text-align:justify;'><font face="Arial" size=2>&nbsp;</font></p>


<table width="90%" border="0" align="center" cellpadding=0 cellspacing=0>
  <tr valign="bottom" >
    <td width="173" style='border-top:solid black 1.0pt; padding:0in 6.0pt 0in 6.0pt'>
      <p align="center" style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:4.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>
      <p align="center" style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=2>&nbsp;</font></p>
      <p align="center" style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:2.7pt'><font face="Arial" size=2>Title
        of each class of</font></p>
      <p align="center" style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:2.7pt'><font face="Arial" size=2>securities
        to be <br>
        registered</font></p></td>
    <td width="118" style='border-top:solid black 1.0pt; border-left:solid black 1.0pt;border-bottom:none;border-right:none;  padding:0in 6.0pt 0in 6.0pt'>
      <p align="center" style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:4.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>
      <p align="center" style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=2>&nbsp;</font></p>
      <p align="center" style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:2.7pt'><font face="Arial" size=2>Amount
        to be <br>
        registered</font></p></td>
    <td width="127" style='border-top:solid black 1.0pt; border-left:solid black 1.0pt;border-bottom:none;border-right:none;  padding:0in 6.0pt 0in 6.0pt'>
      <p align="center" style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:4.5pt;margin-bottom:2.7pt'><font face="Arial" size=2>Proposed<br>
        </font><font face="Arial" size=2>maximum <br>
        offering price per <br>
        share (1)</font></p></td>
    <td width="127" style='border-top:solid black 1.0pt; border-left:solid black 1.0pt;border-bottom:none;border-right:none;  padding:0in 6.0pt 0in 6.0pt'>
      <p align="center" style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:4.5pt;margin-bottom:2.7pt'><font face="Arial" size=2>Proposed
        <br>
        maximum <br>
        aggregate <br>
        offering price</font></p></td>
    <td width="127" style='border-top:solid black 1.0pt; border-left:solid black 1.0pt;border-bottom:none;border-right:none;  padding:0in 6.0pt 0in 6.0pt'>
      <p align="center" style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:4.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>
      <p align="center" style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=2>&nbsp;</font></p>
      <p align="center" style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:2.7pt'><font face="Arial" size=2>Amount
        of <br>
        registration fee</font></p></td>
  </tr>
  <tr >
    <td width="173" valign=top style='border-top:solid black 1.0pt; border-left:none;border-bottom:solid black 1.0pt;border-right:none;  padding:0in 6.0pt 0in 6.0pt'>
      <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:4.5pt;margin-bottom: 2.7pt'><font face="Arial" size=2>Class
        A Limited Voting Common Stock</font></p></td>
    <td width="118" valign=top style='border:solid black 1.0pt;border-color:solid black; border-right:none; padding:0in 6.0pt 0in 6.0pt'>
      <p align="center" style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>
      <p align="center" style='margin-left:0pt;text-indent:12.0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=2>4,500,000</font></p></td>
    <td width="127" valign=top style='border:solid black 1.0pt;border-color:solid black; border-right:none; padding:0in 6.0pt 0in 6.0pt'>
      <p align="center" style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>
      <p align="center" style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=2>$32.17</font></p>
      <p align="center" style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:2.7pt'><font size=1>&nbsp;</font></p></td>
    <td width="127" valign=top style='border:solid black 1.0pt;border-color:solid black; border-right:none; padding:0in 6.0pt 0in 6.0pt'>
      <p align="center" style='margin-left:0pt;text-indent:41.25pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>
      <p align="center" style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:2.7pt'><font face="Arial" size=2>$144,765,000</font></p></td>
    <td width="127" valign=top style='border:solid black 1.0pt;border-color:solid black; border-right:none; padding:0in 6.0pt 0in 6.0pt'>
      <p align="center" style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:2.7pt'><font size=1>&nbsp;</font></p>
      <p align="center" style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:2.7pt'><font face="Arial" size=2>$15,492</font></p></td>
  </tr>
</table>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.25in;text-align:justify;'><font face="Arial" size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.25in;text-align:justify;'><font face="Arial" size=2>(1) Computed, pursuant to Rule 457(c), solely for the purpose of calculating the registration </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.25in;text-align:justify;'><font face="Arial" size=2>fee
  based on the average of the high and low prices of the Class A Limited Voting
  Common Stock as reported on the New York Stock Exchange on May 5, 2006. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.25in;text-align:justify;'><font face="Arial" size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font face="Arial" size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font face="Arial" size=2>&nbsp;</font></p>
<br>
<HR noshade align="center" width="100%" size="2">
<p style='page-break-before:always'></p>
<PAGE><p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'>
</p>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font face="Arial" size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font FACE="ARIAL" SIZE=2>PART II</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font FACE="ARIAL" SIZE=2>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT </font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font face="Arial" size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="408" style='border-collapse:collapse'>
    <tr >
        <td width="96" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><b><font face="Arial" size=2>Item 3.  </font></b></p> </td>
        <td width="312" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><b><font face="Arial" size=2>Incorporation of Documents by Reference.</font></b></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font face="Arial" size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.52in;text-align:justify;'><font face="Arial" size=2>The Registrant incorporates by reference into this Registration Statement the following documents: </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font face="Arial" size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" >
  <tr >
    <td width="22" valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=2>(a)</font></p></td>
    <td width="20" valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=2>&nbsp;
        </font></p></td>
    <td valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=2>the
        Registrant&#146;s Annual Report on Form 10-K (File No. 001-09750) for
        the fiscal year ended December 31, 2005, filed with the Securities and
        Exchange Commission (the &#147;Commission&#148;) on March 16, 2006 pursuant
        to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended
        (the &#147;Exchange Act&#148;); </font></p></td>
  </tr>
  <tr >
    <td valign=top >&nbsp;</td>
    <td valign=top >&nbsp;</td>
    <td valign=top >&nbsp;</td>
  </tr>
  <tr >
    <td valign=top ><font face="Arial" size=2>(b)</font></td>
    <td valign=top >&nbsp;</td>
    <td valign=top ><font face="Arial" size=2>all other reports filed by the Registrant
      with the Commission pursuant to Section 13(a) or 15(d) of the Exchange Act
      since December 31, 2005;</font></td>
  </tr>
  <tr >
    <td valign=top >&nbsp;</td>
    <td valign=top >&nbsp;</td>
    <td valign=top >&nbsp;</td>
  </tr>
  <tr >
    <td valign=top ><font face="Arial" size=2>(c)</font><font face="Arial" size=2>&nbsp;</font></td>
    <td valign=top >&nbsp;</td>
    <td valign=top ><font face="Arial" size=2>Item
      1 of the Registrant&#146;s Registration Statement on Form 8-A, dated March
      7, 1990 (File No. 001-09750) and filed with the Commission on March 8, 1990
      pursuant to Section 12 of the Exchange Act; and</font></td>
  </tr>
  <tr >
    <td valign=top >&nbsp;</td>
    <td valign=top >&nbsp;</td>
    <td valign=top >&nbsp;</td>
  </tr>
  <tr >
    <td valign=top ><font face="Arial" size=2>(d)</font></td>
    <td valign=top >&nbsp;</td>
    <td valign=top ><font face="Arial" size=2>all documents filed by the Registrant
      with the Commission pursuant to Sections 13(a), 13(c), 14 and 15(d) of the
      Exchange Act after the date of this Registration Statement and prior to
      the filing of a post-effective amendment that indicates that all securities
      offered have been sold or that deregisters all such securities then remaining
      to be sold. </font></td>
  </tr>
</table>

<p style="margin-bottom: 5pt"><font size="2" face="Arial">Any statement contained
  in any document incorporated or deemed to be incorporated by reference herein
  shall be deemed to be modified or superseded for the purposes of this Registration
  Statement to the extent that a statement contained herein or in any subsequently
  filed document which also is or is deemed to be incorporated by reference herein
  modifies or supersedes such statement. Any statement so modified or superseded
  shall not be deemed, except as so modified or superseded, to constitute a part
  of this Registration Statement. </font></p>
<table border="0" cellspacing=0 cellpadding=0 width="407" style='border-collapse:collapse'>
    <tr >
        <td width="96" nowrap valign=top style='padding:5.0pt 0in 5.0pt 0in; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font face="Arial" size=2>Item 6.  </font></b></p> </td>
        <td width="311" nowrap valign=top style='padding:5.0pt 0in 5.0pt 0in; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font face="Arial" size=2>Indemnification of Directors and Officers.</font></b></p> </td> </tr></table>

<p style=' margin-bottom:5pt; margin-top:5pt;text-align:left;'><font face="Arial" size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:justify;'><font face="Arial" size=2>The Registrant's Articles of Incorporation require the Registrant to indemnify its Directors (including directors of subsidiaries) (and give the Registrant authority to indemnify its officers (including officers of subsidiaries), subject to their satisfying certain standards of conduct) for expenses, judgments, fines, or amounts paid in settlement of civil, criminal, administrative, and investigative suits or proceedings, including those involving alleged violations of the Securities Act of 1933 (the "Act").  The Registrant's Articles of Incorporation limit the liability of  its Directors to the Registrant or its shareholders for monetary damages for breach of the Directors' fiduciary duties. In addition, the Registrant maintains directors' and officers' liability insurance that, under certain circumstances, would cover alleged violations of the Act.</font></p>

<p style=' margin-bottom:5pt; margin-top:5pt;text-align:left;'><font face="Arial" size=2>&nbsp;</font></p>

<p align="center" style=' margin-bottom:5pt; margin-top:5pt;text-align:center;'><font face="Arial" size=2>II-1</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font face="Arial" size=2>&nbsp;</font></p>
<br>
<HR noshade align="center" width="100%" size="2">
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<PAGE><p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="177" style='border-collapse:collapse'>
    <tr >
        <td width="96" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><b><font face="Arial" size=2>Item 8.</font></b></p> </td>
        <td width="81" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><b><font face="Arial" size=2>Exhibits.</font></b></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font face="Arial" size=2>&nbsp;</font></p>


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        <td width="144" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><u><font face="Arial" size=2>Exhibit Number</font></u></p> </td>
        <td width="93" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><u><font face="Arial" size=2>Description</font></u></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font face="Arial" size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td width="144" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=2>5</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=2>Opinion of Dickinson Wright PLLC, special counsel to the Company, as to the legality of the shares. </font></p> </td> </tr></table>


<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:1.5in; text-indent:-1.5in;text-align:justify;'><font face="Arial" size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td width="144" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=2>10.1*</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=2>Sotheby&#146;s Holdings, Inc. Amended and Restated Restricted Stock Plan, dated as of April 10, 2006.</font></p> </td> </tr></table>


<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:1.5in; text-indent:-1.5in;text-align:justify;'><font face="Arial" size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="387" style='border-collapse:collapse'>
    <tr >
        <td width="144" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=2>23(a)</font></p> </td>
        <td width="243" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=2>Consent of Deloitte &amp; Touche LLP.</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font face="Arial" size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="532" style='border-collapse:collapse'>
    <tr >
        <td width="144" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=2>23(b)</font></p> </td>
        <td width="388" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=2>Consent of Dickinson Wright PLLC (included in Exhibit 5).</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font face="Arial" size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="477" style='border-collapse:collapse'>
    <tr >
        <td width="144" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=2>24</font></p> </td>
        <td width="333" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=2>Powers of Attorney (included on signature page).</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:1in;text-align:justify;'><font face="Arial" size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font face="Arial" size=2>*Management contract or compensatory plan.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font face="Arial" size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="203" style='border-collapse:collapse'>
    <tr >
        <td width="85" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font face="Arial" size=2>Item 9.  </font></b></p> </td>
        <td width="117" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font face="Arial" size=2>Undertakings.</font></b></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font face="Arial" size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font face="Arial" size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:justify;'><font face="Arial" size=2>The Registrant hereby undertakes:</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font face="Arial" size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.55in;text-align:justify;'><font face="Arial" size=2> (a) To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font face="Arial" size=2>&nbsp;</font></p>


<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.81in;text-align:justify;'><font face="Arial" size=2>(i) to include any prospectus required by Section 10(a)(3)
of the Act;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font face="Arial" size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.81in;text-align:justify;'><font face="Arial" size=2> (ii) to reflect in the prospectus any facts or events arising after the effective date of this Registration Statement (or the most recent post-effective amendment thereto) which, individually or in  the aggregate, represent a fundamental change in the information set  forth in this Registration Statement. Notwithstanding the foregoing,  any increase or decrease in the volume of securities offered (if the  total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a   20 percent change in the maximum aggregate offering price set forth   in the "Calculation of Registration Fee" table in the effective
Registration Statement; and</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font face="Arial" size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.81in;text-align:justify;'><font face="Arial" size=2> (iii) to include any material information with respect to the plan of distribution not previously disclosed in this Registration Statement or any material change to such information in this Registration Statement;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font face="Arial" size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font face="Arial" size=2>provided, however, that the undertakings set forth in paragraphs (a)(i) and (a)(ii) do not apply if the registration statement is on Form S-3, Form S-8 or Form F-3 and the  information required to be included in a post-effective amendment by those paragraphs is contained in periodic reports filed with or furnished to the Commission by the Registrant pursuant to Section 13 or Section 15(d) of the Exchange Act that are incorporated by reference in this Registration Statement.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font face="Arial" size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.55in;text-align:justify;'><font face="Arial" size=2> (b) That, for the purpose of determining any liability under the Act, each such post-effective amendment will be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time will be deemed to be the initial bona fide offering thereof.</font></p>

<p align="center" style=' margin-bottom:5pt; margin-top:5pt;text-align:center;'>&nbsp;</p>
<p align="center" style=' margin-bottom:5pt; margin-top:5pt;text-align:center;'><font face="Arial" size=2>II-2</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font face="Arial" size=2>&nbsp;</font></p>
<br>
<HR noshade align="center" width="100%" size="2">
<p style='page-break-before:always'></p>
<PAGE><p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.55in;text-align:justify;'><font face="Arial" size=2> (c) To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font face="Arial" size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.55in;text-align:justify;'><font face="Arial" size=2> (d) That, for purposes of determining any liability under the Act, each filing of the Registrant's annual report pursuant to Section 13(a) or 15(d) of the Exchange Act that is incorporated by reference in this Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein and the offering of such securities at that time shall be deemed to be the initial  bona fide offering thereof.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font face="Arial" size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.55in;text-align:justify;'><font face="Arial" size=2> (e) Insofar as indemnification for liabilities arising under the Act may be permitted to directors, officers and controlling persons of the Registrant, the Registrant has been advised that, in the opinion of the Commission, such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such  liabilities (other than the payment by the Registrant of expenses incurred  or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of  its counsel the matter has been settled by controlling precedent, submit  to a court of appropriate jurisdiction the question
whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font face="Arial" size=2>&nbsp;</font></p>
<p align="center" style=' margin-bottom:5pt; margin-top:5pt;text-align:center;'><font face="Arial" size=2>II-3</font></p>
<br>
<HR noshade align="center" width="100%" size="2">
<p style='page-break-before:always'></p>
<PAGE><p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'>
<B><font FACE="ARIAL" SIZE=2>SIGNATURES</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font face="Arial" size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.56in;text-align:justify;'><font face="Arial" size=2>Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement on Form S-8 to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of New York, State of New York, on the</font><b><font face="Arial" size=2> </font></b><font face="Arial" size=2>9th day  of  May,  2006.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font face="Arial" size=2>&nbsp;</font></p>


<table width="100%" border="0" cellpadding=0 cellspacing=0 style='border-collapse:collapse'>
  <tr >

    <td width="65%" valign=top nowrap >
      <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>

    <td nowrap valign=top >
      <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font FACE="ARIAL" SIZE=2>SOTHEBY'S HOLDINGS, INC.</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font face="Arial" size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font face="Arial" size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font face="Arial" size=2>&nbsp;</font></p>


<table width="100%" border="0" cellpadding=0 cellspacing=0 style='border-collapse:collapse'>
  <tr >

    <td width="65%" valign=top nowrap >
      <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>

    <td width="5%" valign=top nowrap >
      <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=2>By:</font></p> </td>

    <td nowrap valign=top >
      <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt'><font face="Arial" size=2><font face="Arial" size=2><u>/s/
        William F. Ruprecht&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font>
        <br>
        </font><font face="Arial" size=2>William F. Ruprecht<br>
        </font><font face="Arial" size=2>President and Chief Executive Officer</font></p>
      <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=2>
        </font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:4in;text-align:justify;'>&nbsp;</p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font face="Arial" size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font FACE="ARIAL" SIZE=2>POWER OF ATTORNEY</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font face="Arial" size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:justify;'><font face="Arial" size=2>KNOW ALL PERSONS BY THESE PRESENTS that each person whose signature appears below hereby constitutes and appoints William F. Ruprecht and&nbsp;William S. Sheridan, and each of them,&nbsp;as his true and lawful attorney-in-fact and agent, with full power of substitution, for him  and in his name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments), supplements and other documents related &nbsp;to this registration statement, and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorney-in-fact and agent full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith, as fully to all intents and purposes as he  might or could do in person, hereby
ratifying and confirming all that said attorney-in-fact and agent or any of them, or their substitute or substitutes, shall do or cause to be done by virtue hereof.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:justify;'><font face="Arial" size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.56in;text-align:justify;'><font face="Arial" size=2>Pursuant
  to the requirements of the Securities Act of 1933, this Registration Statement
  on Form S-8 has been signed below by the following persons in the capacities
  and on the date indicated.</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.56in;text-align:justify;'>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="20%"><div align="center"><font face="Arial, Helvetica, sans-serif"><u><font size=2>Signature</font></u></font></div></td>
    <td><div align="center"><font face="Arial, Helvetica, sans-serif"><u><font size=2>Title</font></u></font></div></td>
    <td width="20%"><div align="center"><font face="Arial, Helvetica, sans-serif"><u><font size=2>Date</font></u></font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td style='border-bottom:solid black 1px'><div align="left"><font size="2" face="Arial, Helvetica, sans-serif">/s/
        Michael I. Sovern</font></div></td>
    <td><div align="center"><font face="Arial" size=2>Chairman of the Board</font><font face="Arial, Helvetica, sans-serif"></font></div></td>
    <td><div align="center"><font face="Arial" size=2>May 9, 2006</font><font face="Arial, Helvetica, sans-serif"></font></div></td>
  </tr>
  <tr>
    <td><div align="left"><font face="Arial, Helvetica, sans-serif" size=2>Michael
        I. Sovern</font></div></td>
    <td><div align="center"><font face="Arial, Helvetica, sans-serif"></font></div></td>
    <td><div align="center"><font face="Arial, Helvetica, sans-serif"></font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td style='border-bottom:solid black 1px'><div align="left"><font size="2" face="Arial, Helvetica, sans-serif">/s/
        </font><font face="Arial" size=2>The Duke of Devonshire</font><font face="Arial, Helvetica, sans-serif"></font></div></td>
    <td><div align="center"><font face="Arial" size=2>Deputy Chairman of the Board</font><font face="Arial, Helvetica, sans-serif"></font></div></td>
    <td><div align="center"><font face="Arial" size=2>May 9, 2006</font><font face="Arial, Helvetica, sans-serif"></font></div></td>
  </tr>
  <tr>
    <td><div align="left"><font face="Arial" size=2>The Duke of Devonshire</font><font face="Arial, Helvetica, sans-serif"></font></div></td>
    <td><div align="center"><font face="Arial, Helvetica, sans-serif"></font></div></td>
    <td><div align="center"><font face="Arial, Helvetica, sans-serif"></font></div></td>
  </tr>
  <tr>
    <td><div align="left"><font face="Arial, Helvetica, sans-serif">&nbsp;</font></div></td>
    <td><div align="center"><font face="Arial, Helvetica, sans-serif"></font></div></td>
    <td><div align="center"><font face="Arial, Helvetica, sans-serif"></font></div></td>
  </tr>
  <tr>
    <td style='border-bottom:solid black 1px'><div align="left"><font size="2" face="Arial, Helvetica, sans-serif">/s/
        </font><font face="Arial" size=2>William F. Ruprecht</font><font size="2" face="Arial, Helvetica, sans-serif">
        </font></div></td>
    <td rowspan="2"><div align="center"><font face="Arial" size=2>President, Chief
        Executive <br>
        Officer and Director</font><font face="Arial, Helvetica, sans-serif"></font></div>
      <div align="center"><font face="Arial, Helvetica, sans-serif"></font></div></td>
    <td><div align="center"><font face="Arial" size=2>May 9, 2006</font><font face="Arial, Helvetica, sans-serif"></font></div></td>
  </tr>
  <tr>
    <td><div align="left"><font face="Arial" size=2>William F. Ruprecht</font><font face="Arial, Helvetica, sans-serif"></font></div></td>
    <td><div align="center"><font face="Arial, Helvetica, sans-serif"></font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td style='border-bottom:solid black 1px'><div align="left"><font size="2" face="Arial, Helvetica, sans-serif">/s/
        </font><font face="Arial" size=2>William S. Sheridan</font><font size="2" face="Arial, Helvetica, sans-serif">
        </font></div></td>
    <td rowspan="2"><div align="center"><font face="Arial" size=2>Executive Vice
        President and<br>
        Chief Financial Officer</font><font face="Arial, Helvetica, sans-serif"></font></div>
      <div align="center"><font face="Arial, Helvetica, sans-serif"></font></div></td>
    <td><div align="center"><font face="Arial" size=2>May 9, 2006</font><font face="Arial, Helvetica, sans-serif"></font></div></td>
  </tr>
  <tr>
    <td><div align="left"><font face="Arial" size=2>William S. Sheridan</font><font face="Arial, Helvetica, sans-serif"></font></div></td>
    <td><div align="center"><font face="Arial, Helvetica, sans-serif"></font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td style='border-bottom:solid black 1px'><div align="left"><font size="2" face="Arial, Helvetica, sans-serif">/s/
        </font><font face="Arial" size=2>Michael Blakenham</font><font size="2" face="Arial, Helvetica, sans-serif">
        </font></div></td>
    <td><div align="center"><font face="Arial" size=2>Director</font><u></u><font face="Arial, Helvetica, sans-serif"></font></div></td>
    <td><div align="center"><font face="Arial" size=2>May 9, 2006</font><u></u><font face="Arial, Helvetica, sans-serif"></font></div></td>
  </tr>
  <tr>
    <td><div align="left"><font face="Arial" size=2>Michael Blakenham</font><font face="Arial, Helvetica, sans-serif"></font></div></td>
    <td><div align="center"><font face="Arial, Helvetica, sans-serif"></font></div></td>
    <td><div align="center"><font face="Arial, Helvetica, sans-serif"></font></div></td>
  </tr>
  <tr>
    <td><div align="left"><font face="Arial, Helvetica, sans-serif"></font></div></td>
    <td><div align="center"><font face="Arial, Helvetica, sans-serif"></font></div></td>
    <td><div align="center"><font face="Arial, Helvetica, sans-serif"></font></div></td>
  </tr>
  <tr>
    <td><div align="left"><font face="Arial, Helvetica, sans-serif"></font></div></td>
    <td><div align="center"><font face="Arial, Helvetica, sans-serif"></font></div></td>
    <td><div align="center"><font face="Arial, Helvetica, sans-serif"></font></div></td>
  </tr>
</table>
<p align="center" style=' margin-bottom:5pt; margin-top:5pt;text-align:center;'>&nbsp;</p>
<p align="center" style=' margin-bottom:5pt; margin-top:5pt;text-align:center;'><font face="Arial" size=2>II-4</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.56in;text-align:justify;'>&nbsp;</p>

<br>
<HR noshade align="center" width="100%" size="2">
<p style='page-break-before:always'></p>
<PAGE>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="20%" style='border-bottom:solid black 1px'><div align="left"><font size="2" face="Arial, Helvetica, sans-serif">/s/
        </font><font face="Arial" size=2>Steven B. Dodge</font></div></td>
    <td><div align="center"><font face="Arial" size=2>Director</font><u></u><font face="Arial, Helvetica, sans-serif"></font><font face="Arial, Helvetica, sans-serif"></font></div></td>
    <td width="20%"><div align="center"><font face="Arial" size=2>May 9, 2006</font><font face="Arial, Helvetica, sans-serif"></font></div></td>
  </tr>
  <tr>
    <td><div align="left"><font face="Arial" size=2>Steven B. Dodge</font></div></td>
    <td><div align="center"><font face="Arial, Helvetica, sans-serif"></font></div></td>
    <td><div align="center"><font face="Arial, Helvetica, sans-serif"></font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td style='border-bottom:solid black 1px'><div align="left"><font size="2" face="Arial, Helvetica, sans-serif">/s/
        </font><font face="Arial" size=2>Allen Questrom</font></div></td>
    <td><div align="center"><font face="Arial" size=2>Director</font><u></u><font face="Arial, Helvetica, sans-serif"></font><font face="Arial, Helvetica, sans-serif"></font></div></td>
    <td><div align="center"><font face="Arial" size=2>May 9, 2006</font><font face="Arial, Helvetica, sans-serif"></font></div></td>
  </tr>
  <tr>
    <td><div align="left"><font face="Arial" size=2>Allen Questrom</font><font face="Arial, Helvetica, sans-serif"></font></div></td>
    <td><div align="center"><font face="Arial, Helvetica, sans-serif"></font></div></td>
    <td><div align="center"><font face="Arial, Helvetica, sans-serif"></font></div></td>
  </tr>
  <tr>
    <td><div align="left"><font face="Arial, Helvetica, sans-serif">&nbsp;</font></div></td>
    <td><div align="center"><font face="Arial, Helvetica, sans-serif"></font></div></td>
    <td><div align="center"><font face="Arial, Helvetica, sans-serif"></font></div></td>
  </tr>
  <tr>
    <td style='border-bottom:solid black 1px'><div align="left"><font size="2" face="Arial, Helvetica, sans-serif">/s/
        </font><font face="Arial" size=2>Donald M. Stewart</font><font size="2" face="Arial, Helvetica, sans-serif">
        </font></div></td>
    <td valign="top"> <div align="center"><font face="Arial" size=2>Director</font><u></u><font face="Arial, Helvetica, sans-serif"></font></div>
      <div align="center"><font face="Arial, Helvetica, sans-serif"></font></div></td>
    <td><div align="center"><font face="Arial" size=2>May 9, 2006</font><font face="Arial, Helvetica, sans-serif"></font></div></td>
  </tr>
  <tr>
    <td><div align="left"><font face="Arial" size=2>Donald M. Stewart</font><font face="Arial, Helvetica, sans-serif"></font></div></td>
    <td valign="top">&nbsp;</td>
    <td><div align="center"><font face="Arial, Helvetica, sans-serif"></font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td style='border-bottom:solid black 1px'><div align="left"><font size="2" face="Arial, Helvetica, sans-serif">/s/
        </font><font face="Arial" size=2>Robert S. Taubman</font></div></td>
    <td valign="top"> <div align="center"><font face="Arial" size=2>Director</font><u></u><font face="Arial, Helvetica, sans-serif"></font></div>
      <div align="center"><font face="Arial, Helvetica, sans-serif"></font></div></td>
    <td><div align="center"><font face="Arial" size=2>May 9, 2006</font><font face="Arial, Helvetica, sans-serif"></font></div></td>
  </tr>
  <tr>
    <td><div align="left"><font face="Arial" size=2>Robert S. Taubman</font></div></td>
    <td valign="top">&nbsp;</td>
    <td><div align="center"><font face="Arial, Helvetica, sans-serif"></font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td style='border-bottom:solid black 1px'><div align="left"><font size="2" face="Arial, Helvetica, sans-serif">/s/
        </font><font face="Arial" size=2>Robin G. Woodhead</font></div></td>
    <td valign="top"> <div align="center"><font face="Arial" size=2>Executive
        Vice President and Director</font></div>
      <div align="center"><font face="Arial, Helvetica, sans-serif"></font></div></td>
    <td><div align="center"><font face="Arial" size=2>May 9, 2006</font><font face="Arial, Helvetica, sans-serif"></font></div></td>
  </tr>
  <tr>
    <td><div align="left"><font face="Arial" size=2>Robin G. Woodhead</font></div></td>
    <td valign="top">&nbsp;</td>
    <td><div align="center"><font face="Arial, Helvetica, sans-serif"></font></div></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td style='border-bottom:solid black 1px'><div align="left"><font size="2" face="Arial, Helvetica, sans-serif">/s/
        </font><font face="Arial" size=2>Michael L. Gillis</font><font size="2" face="Arial, Helvetica, sans-serif">
        </font></div></td>
    <td rowspan="2"><div align="center"><font face="Arial" size=2>Senior Vice
        President, Controller, and <br>
        Chief Accounting Officer</font></div>
      <div align="center"><font face="Arial, Helvetica, sans-serif"></font></div></td>
    <td><div align="center"><font face="Arial" size=2>May 9, 2006</font><u></u><font face="Arial, Helvetica, sans-serif"></font></div></td>
  </tr>
  <tr>
    <td><div align="left"><font face="Arial" size=2>Michael L. Gillis</font></div></td>
    <td><div align="center"><font face="Arial, Helvetica, sans-serif"></font></div></td>
  </tr>
  <tr>
    <td><div align="left"><font face="Arial, Helvetica, sans-serif"></font></div></td>
    <td><div align="center"><font face="Arial, Helvetica, sans-serif"></font></div></td>
    <td><div align="center"><font face="Arial, Helvetica, sans-serif"></font></div></td>
  </tr>
  <tr>
    <td><div align="left"><font face="Arial, Helvetica, sans-serif"></font></div></td>
    <td><div align="center"><font face="Arial, Helvetica, sans-serif"></font></div></td>
    <td><div align="center"><font face="Arial, Helvetica, sans-serif"></font></div></td>
  </tr>
</table>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font face="Arial" size=2>&nbsp;</font></p>

<p align="center" style=' margin-bottom:5pt; margin-top:5pt;text-align:center;'>&nbsp;</p>
<p align="center" style=' margin-bottom:5pt; margin-top:5pt;text-align:center;'><font face="Arial" size=2>II-5</font></p>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
<br>
<HR noshade align="center" width="100%" size="2">
<p style='page-break-before:always'></p>
<PAGE><p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'>
<b><font face="Arial" size=2>Exhibit Index</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font face="Arial" size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font face="Arial" size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font face="Arial" size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="237" style='border-collapse:collapse'>
    <tr >
        <td width="144" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><u><font face="Arial" size=2>Exhibit Number</font></u></p> </td>
        <td width="93" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><u><font face="Arial" size=2>Description</font></u></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font face="Arial" size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td width="144" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=2>5</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=2>Opinion of Dickinson Wright PLLC, special counsel to the Company, as to the legality of the shares. </font></p> </td> </tr></table>


<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:1.5in; text-indent:-1.5in;text-align:justify;'><font face="Arial" size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td width="144" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=2>10.1*</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=2>Sotheby&#146;s Holdings, Inc. Amended and Restated Restricted Stock Plan, dated as of April 10, 2006.</font></p> </td> </tr></table>


<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:1.5in; text-indent:-1.5in;text-align:justify;'><font face="Arial" size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="387" style='border-collapse:collapse'>
    <tr >
        <td width="144" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=2>23(a)</font></p> </td>
        <td width="243" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=2>Consent of Deloitte &amp; Touche LLP.</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font face="Arial" size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="532" style='border-collapse:collapse'>
    <tr >
        <td width="144" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=2>23(b)</font></p> </td>
        <td width="388" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=2>Consent of Dickinson Wright PLLC (included in Exhibit 5).</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font face="Arial" size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="477" style='border-collapse:collapse'>
    <tr >
        <td width="144" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=2>24</font></p> </td>
        <td width="333" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=2>Powers of Attorney (included on signature page).</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:1in;text-align:justify;'><font face="Arial" size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font face="Arial" size=2>*Management contract or compensatory plan.</font></p>

<p align="center" style=' margin-bottom:5pt; margin-top:5pt;text-align:center;'>&nbsp;</p>
<p align="center" style=' margin-bottom:5pt; margin-top:5pt;text-align:center;'><font face="Arial" size=2>II-6</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font face="Arial" size=2>&nbsp;</font></p>

<HR noshade align="center" width="100%" size="2">
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font face="Arial" size=2>
  </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font face="Arial" size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>



</BODY>
</HTML>
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{"company-data": {"conformed-name": "SOTHEBYS HOLDINGS INC", "cik": "0000823094", "assigned-sic": "7389", "irs-number": "382478409", "state-of-incorporation": "MI", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-133928", "film-number": "06821210"}, "business-address": {"street1": "500 NORTH WOODWARD AVENUE", "street2": "SUITE 100", "city": "BLOOMFIELD HILLS", "state": "MI", "zip": "48304", "phone": "2486462400"}, "mail-address": {"street1": "500 NORTH WOODWARD AVENUE", "street2": "SUITE 100", "city": "BLOOMFIELD HILLS", "state": "MI", "zip": "48304"}}
As filed with the Securities and Exchange Commission on  May  9, 2006
Registration No. 333-_____
________________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C.  20549
__________________________________________
FORM S-8
REGISTRATION STATEMENT
Under
THE SECURITIES ACT OF 1933
__________________________________________
SOTHEBY'S HOLDINGS, INC.
(Exact name of registrant as specified in its charter)
Michigan
(State or other jurisdiction of incorporation or organization)
38-2478409
(I.R.S. Employer
        Identification Number)
38500 Woodward Avenue, Suite 100
Bloomfield Hills, Michigan  48304
(Address of principal executive offices)
SOTHEBY'S HOLDINGS, INC.
AMENDED AND RESTATED RESTRICTED STOCK  PLAN
(Full title of the plan)
__________________________________________
Donaldson C. Pillsbury
Executive Vice President, Worldwide General Counsel and Secretary
Sotheby's, Inc.
1334 York Avenue
New York, New York  10021
(212)  606-7000
(Name and address of agent for service)
CALCULATION OF REGISTRATION FEE
Title
        of each class of
securities
        to be
registered
Amount
        to be
registered
Proposed
maximum
offering price per
share (1)
Proposed
maximum
aggregate
offering price
Amount
        of
registration fee
Class
        A Limited Voting Common Stock
4,500,000
$32.17
$144,765,000
$15,492
(1) Computed, pursuant to Rule 457(c), solely for the purpose of calculating the registration
fee
  based on the average of the high and low prices of the Class A Limited Voting
  Common Stock as reported on the New York Stock Exchange on May 5, 2006.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3.
Incorporation of Documents by Reference.
The Registrant incorporates by reference into this Registration Statement the following documents:
(a)
the
        Registrant's Annual Report on Form 10-K (File No. 001-09750) for
        the fiscal year ended December 31, 2005, filed with the Securities and
        Exchange Commission (the "Commission") on March 16, 2006 pursuant
        to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended
        (the "Exchange Act");
(b)
all other reports filed by the Registrant
      with the Commission pursuant to Section 13(a) or 15(d) of the Exchange Act
      since December 31, 2005;
(c)
Item
      1 of the Registrant's Registration Statement on Form 8-A, dated March
      7, 1990 (File No. 001-09750) and filed with the Commission on March 8, 1990
      pursuant to Section 12 of the Exchange Act; and
(d)
all documents filed by the Registrant
      with the Commission pursuant to Sections 13(a), 13(c), 14 and 15(d) of the
      Exchange Act after the date of this Registration Statement and prior to
      the filing of a post-effective amendment that indicates that all securities
      offered have been sold or that deregisters all such securities then remaining
      to be sold.
Any statement contained
  in any document incorporated or deemed to be incorporated by reference herein
  shall be deemed to be modified or superseded for the purposes of this Registration
  Statement to the extent that a statement contained herein or in any subsequently
  filed document which also is or is deemed to be incorporated by reference herein
  modifies or supersedes such statement. Any statement so modified or superseded
  shall not be deemed, except as so modified or superseded, to constitute a part
  of this Registration Statement.
Item 6.
Indemnification of Directors and Officers.
The Registrant's Articles of Incorporation require the Registrant to indemnify its Directors (including directors of subsidiaries) (and give the Registrant authority to indemnify its officers (including officers of subsidiaries), subject to their satisfying certain standards of conduct) for expenses, judgments, fines, or amounts paid in settlement of civil, criminal, administrative, and investigative suits or proceedings, including those involving alleged violations of the Securities Act of 1933 (the "Act").  The Registrant's Articles of Incorporation limit the liability of  its Directors to the Registrant or its shareholders for monetary damages for breach of the Directors' fiduciary duties. In addition, the Registrant maintains directors' and officers' liability insurance that, under certain circumstances, would cover alleged violations of the Act.
II-1
Item 8.
Exhibits.
Exhibit Number
Description
5
Opinion of Dickinson Wright PLLC, special counsel to the Company, as to the legality of the shares.
10.1*
Sotheby's Holdings, Inc. Amended and Restated Restricted Stock Plan, dated as of April 10, 2006.
23(a)
Consent of Deloitte & Touche LLP.
23(b)
Consent of Dickinson Wright PLLC (included in Exhibit 5).
24
Powers of Attorney (included on signature page).
*Management contract or compensatory plan.
Item 9.
Undertakings.
The Registrant hereby undertakes:
(a) To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:
(i) to include any prospectus required by Section 10(a)(3)
of the Act;
(ii) to reflect in the prospectus any facts or events arising after the effective date of this Registration Statement (or the most recent post-effective amendment thereto) which, individually or in  the aggregate, represent a fundamental change in the information set  forth in this Registration Statement. Notwithstanding the foregoing,  any increase or decrease in the volume of securities offered (if the  total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a   20 percent change in the maximum aggregate offering price set forth   in the "Calculation of Registration Fee" table in the effective
Registration Statement; and
(iii) to include any material information with respect to the plan of distribution not previously disclosed in this Registration Statement or any material change to such information in this Registration Statement;
provided, however, that the undertakings set forth in paragraphs (a)(i) and (a)(ii) do not apply if the registration statement is on Form S-3, Form S-8 or Form F-3 and the  information required to be included in a post-effective amendment by those paragraphs is contained in periodic reports filed with or furnished to the Commission by the Registrant pursuant to Section 13 or Section 15(d) of the Exchange Act that are incorporated by reference in this Registration Statement.
(b) That, for the purpose of determining any liability under the Act, each such post-effective amendment will be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time will be deemed to be the initial bona fide offering thereof.
II-2
(c) To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.
(d) That, for purposes of determining any liability under the Act, each filing of the Registrant's annual report pursuant to Section 13(a) or 15(d) of the Exchange Act that is incorporated by reference in this Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein and the offering of such securities at that time shall be deemed to be the initial  bona fide offering thereof.
(e) Insofar as indemnification for liabilities arising under the Act may be permitted to directors, officers and controlling persons of the Registrant, the Registrant has been advised that, in the opinion of the Commission, such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such  liabilities (other than the payment by the Registrant of expenses incurred  or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of  its counsel the matter has been settled by controlling precedent, submit  to a court of appropriate jurisdiction the question
whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.
II-3
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement on Form S-8 to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of New York, State of New York, on the
9th day  of  May,  2006.
SOTHEBY'S HOLDINGS, INC.
By:
/s/
        William F. Ruprecht
William F. Ruprecht
President and Chief Executive Officer
POWER OF ATTORNEY
KNOW ALL PERSONS BY THESE PRESENTS that each person whose signature appears below hereby constitutes and appoints William F. Ruprecht and William S. Sheridan, and each of them, as his true and lawful attorney-in-fact and agent, with full power of substitution, for him  and in his name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments), supplements and other documents related  to this registration statement, and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorney-in-fact and agent full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith, as fully to all intents and purposes as he  might or could do in person, hereby
ratifying and confirming all that said attorney-in-fact and agent or any of them, or their substitute or substitutes, shall do or cause to be done by virtue hereof.
Pursuant
  to the requirements of the Securities Act of 1933, this Registration Statement
  on Form S-8 has been signed below by the following persons in the capacities
  and on the date indicated.
Signature
Title
Date
/s/
        Michael I. Sovern
Chairman of the Board
May 9, 2006
Michael
        I. Sovern
/s/
The Duke of Devonshire
Deputy Chairman of the Board
May 9, 2006
The Duke of Devonshire
/s/
William F. Ruprecht
President, Chief
        Executive
Officer and Director
May 9, 2006
William F. Ruprecht
/s/
William S. Sheridan
Executive Vice
        President and
Chief Financial Officer
May 9, 2006
William S. Sheridan
/s/
Michael Blakenham
Director
May 9, 2006
Michael Blakenham
II-4
/s/
Steven B. Dodge
Director
May 9, 2006
Steven B. Dodge
/s/
Allen Questrom
Director
May 9, 2006
Allen Questrom
/s/
Donald M. Stewart
Director
May 9, 2006
Donald M. Stewart
/s/
Robert S. Taubman
Director
May 9, 2006
Robert S. Taubman
/s/
Robin G. Woodhead
Executive
        Vice President and Director
May 9, 2006
Robin G. Woodhead
/s/
Michael L. Gillis
Senior Vice
        President, Controller, and
Chief Accounting Officer
May 9, 2006
Michael L. Gillis
II-5
Exhibit Index
Exhibit Number
Description
5
Opinion of Dickinson Wright PLLC, special counsel to the Company, as to the legality of the shares.
10.1*
Sotheby's Holdings, Inc. Amended and Restated Restricted Stock Plan, dated as of April 10, 2006.
23(a)
Consent of Deloitte & Touche LLP.
23(b)
Consent of Dickinson Wright PLLC (included in Exhibit 5).
24
Powers of Attorney (included on signature page).
*Management contract or compensatory plan.
II-6