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<P align="center">
<FONT size=2 face="sans-serif">As filed with the Securities and Exchange Commission on May 30, 2008 </FONT></P>
<P align="right">
<FONT size=2 face="sans-serif">Registration No.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br>
&nbsp;&nbsp;</FONT></P>

<div style="border-bottom:1px solid #000000"> </div>

<P align="center"><B><FONT size=4 face="sans-serif">SECURITIES AND EXCHANGE COMMISSION</FONT></B><BR>
  <B><FONT size=2 face="sans-serif">WASHINGTON, D. C. 20549</FONT></B><FONT size=2 face="sans-serif"> </FONT><BR>
  <FONT size=2 face="sans-serif">__________________________________________ </FONT></P>
<P align="center">
<B><FONT size=4 face="sans-serif">FORM S-8 </FONT></B><BR>
<B><FONT size=2 face="sans-serif">REGISTRATION STATEMENT </FONT></B><BR>
<B><FONT size=2 face="sans-serif">Under </FONT></B><BR>
<B><FONT size=2 face="sans-serif">THE SECURITIES ACT OF 1933</FONT></B><FONT size=2 face="sans-serif"> </FONT><BR>
<FONT size=2 face="sans-serif">__________________________________________ </FONT></P>
<P align="center">
<B><FONT size=5 face="sans-serif">SOTHEBY&#146;S</FONT></B><FONT size=5 face="sans-serif"> </FONT><BR>
<FONT size=2 face="sans-serif">(Exact name of registrant as specified in its charter) </FONT></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD width=44% align=center nowrap><FONT size=2 face="sans-serif">Delaware</FONT>	</TD>
	<TD  width=16% align="center">&nbsp;	</TD>
	<TD width=40% align=center nowrap><FONT size=2 face="sans-serif">38-2478409</FONT>	</TD>
</TR>
<TR valign="bottom">
	<TD align=center nowrap>
<FONT size=2 face="sans-serif">(State or other jurisdiction of incorporation or organization)</FONT>	</TD>
	<TD align="center">&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=2 face="sans-serif">(I.R.S. Employer Identification Number)</FONT>	</TD>
</TR>
<TR>
	<TD colspan=3 align="center">&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=center nowrap>
<FONT size=2 face="sans-serif">1334 York Avenue</FONT>	</TD>
	<TD align="center">&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=2 face="sans-serif">10021</FONT>	</TD>
</TR>
<TR valign="bottom">
	<TD align=center nowrap>
<FONT size=2 face="sans-serif">New York, New York</FONT>	</TD>
	<TD align="center">&nbsp;	</TD>
	<TD align=center nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=center nowrap>
<FONT size=2 face="sans-serif">(Address of Principal Executive Offices)</FONT>	</TD>
	<TD align="center">&nbsp;	</TD>
	<TD align=center nowrap><FONT size=2 face="sans-serif">(Zip Code)</FONT>	</TD>
</TR>
</TABLE><BR>
<P align="center">
<B><FONT size=2 face="sans-serif">SOTHEBY&#146;S AMENDED AND RESTATED RESTRICTED STOCK PLAN</FONT></B></P>
<P align="center">
<FONT size=2 face="sans-serif">(Full title of the plan)</FONT></P>
<P align="center"><FONT size=2 face="sans-serif">__________________________________________</FONT></P>
<P align="center">
<FONT size=2 face="sans-serif">Gilbert L. Klemann, II </FONT><BR>
<FONT size=2 face="sans-serif">Executive Vice President, Worldwide General Counsel and Secretary </FONT><BR>
<FONT size=2 face="sans-serif">Sotheby&#146;s. </FONT><BR>
<FONT size=2 face="sans-serif">1334 York Avenue </FONT><BR>
<FONT size=2 face="sans-serif">New York, New York 10021 </FONT><BR>
<FONT size=2 face="sans-serif">(212) 606-7000 </FONT><BR>
<FONT size=2 face="sans-serif">(Name, address and telephone number, including area code, of agent for service)</FONT></P>
<P align="center">&nbsp;</P>
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<P align="left">
<FONT size=2 face="sans-serif">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of &#147;large accelerated filer,&#148;
&#147;accelerated filer&#148; and &#147;smaller reporting company&#148; in Rule 12b-2 of the Exchange Act. (Check one):</FONT></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD width=16% align=left nowrap>
<FONT size=2 face="sans-serif">Large accelerated filer _</FONT><U><FONT size=2 face="sans-serif">x</FONT></U><FONT size=2 face="sans-serif">_</FONT>	</TD>
	<TD width=55% align=left nowrap>&nbsp;	</TD>
	<TD  width=2%>&nbsp;	</TD>
	<TD width=27% align=left nowrap>
<FONT size=2 face="sans-serif">Accelerated filer &nbsp;&nbsp;___</FONT>	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">Non-accelerated filer &nbsp;&nbsp;___</FONT>	</TD>
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">(Do not check if a smaller reporting company)</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">Smaller reporting company &nbsp;&nbsp;___</FONT>	</TD>
</TR>
</TABLE>
<BR>
<P align="center">&nbsp;</P>
<P align="center"><B><FONT size=2 face="sans-serif">CALCULATION OF REGISTRATION FEE</FONT></B><FONT size=2 face="sans-serif"> </FONT></P>
<TABLE width="100%" border=0 STYLE="border:1px solid #000000" cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD width="25%" align=center nowrap>&nbsp;	</TD>
	<TD width="19%" align=center nowrap>&nbsp;	</TD>
	<TD width="19%" align=center nowrap>
<FONT size=2 face="sans-serif">Proposed</FONT>	</TD>
	<TD width="18%" align=center nowrap>
<FONT size=2 face="sans-serif">Proposed</FONT>	</TD>
	<TD width="19%" align=center nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=center nowrap>&nbsp;	</TD>
	<TD align=center nowrap>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=2 face="sans-serif">maximum</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=2 face="sans-serif">maximum</FONT>	</TD>
	<TD align=center nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=center nowrap>
<FONT size=2 face="sans-serif">Title of securities to be</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=2 face="sans-serif">Amount to be</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=2 face="sans-serif">offering price per</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=2 face="sans-serif">aggregate</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=2 face="sans-serif">Amount of</FONT>	</TD>
</TR>
<TR valign="bottom">
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">registered</FONT>	</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="sans-serif">registered</FONT>	</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">share (1)</FONT>	</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">offering price</FONT>	</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="sans-serif">registration fee</FONT>	</TD>
</TR>
<TR>
	<TD colspan=5 align="center">&nbsp;	</TD>
</TR>

<TR valign="bottom">
	<TD align=center nowrap>
<FONT size=2 face="sans-serif">Common Stock</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=2 face="sans-serif">666,086(2)</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=2 face="sans-serif">&#36;25.785</FONT>	</TD>
	<TD align=center nowrap><FONT size=2 face="sans-serif">&#36;17,175,027</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=2 face="sans-serif">&#36;675.00</FONT>	</TD>
</TR>
</TABLE>
<BR>
<div style="margin-left:20px">
<P align="left"><FONT size=2 face="sans-serif">(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 Sotheby&#146;s common stock
    as reported on the New York Stock Exchange on </FONT><B><FONT size=2 face="sans-serif"> </FONT></B><FONT size=2 face="sans-serif">May 27, 2008.</FONT></P>
<P align="left">
<FONT size=2 face="sans-serif">(2) The shares of common stock being registered pursuant to this Form S-8 are in addition to the shares of common stock  reserved for issuance under the Sotheby&#146;s Amended and Restated Restricted Stock Plan, as
amended, and its predecessor plan that were registered  pursuant to previously filed registration statements on Form S-8. </FONT></P>
<P align="left">&nbsp;</P>
</div>

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<P align="center">
<FONT size=2 face="sans-serif">EXPLANATORY NOTE</FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="sans-serif"> Sotheby&#146;s,
a Delaware corporation (the &#147;Registrant&#148;) is filing this Registration
Statement on Form S-8 with respect to the Sotheby&#146;s Amended and Restated
Restricted Stock Plan (as amended, the
&#147;Plan&#148;) in order to register 666,086 shares of the Registrant&#146;s
Common Stock, par value &#36;0.01 per share, that the Registrant has withheld
from time to time for tax purposes upon the vesting of restricted stock grants
under the  Plan. In accordance with the terms of the Plan, the holder of these
shares is deemed to have surrendered them immediately before the vesting of a
particular portion of a grant. The withheld shares are then available for future
restricted stock  awards under the Plan.</FONT></P>
<P align="center">
<B><FONT size=2 face="sans-serif">PART II </FONT></B><BR>
<B><FONT size=2 face="sans-serif">INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</FONT></B></P>
<p><b><font size=2 face="sans-serif">Item 3. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  Incorporation
of Documents by Reference.</font></b></p>
<p>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font size=2 face="sans-serif">The Registrant
    incorporates by reference into this Registration Statement the following documents:</font>
</p>
<TABLE border=0 cellspacing=0 cellpadding=0>
<TR>
	<TD nowrap valign=top>
<FONT size=2 face="sans-serif">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
	<TD width=100%>
<P align="left"><FONT size=2 face="sans-serif">the Registrant&#146;s Annual Report on Form 10-K (File No. 001-09750) for the fiscal year ended December 31, 2007, filed with the Securities and Exchange Commission (the &#147;Commission&#148;) on
February 27, 2008 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 colspan=2>&nbsp;</TD></TR><TR>
	<TD nowrap valign=top>
<FONT size=2 face="sans-serif">(b)</FONT></TD>
	<TD width=100%>
<P align="left"><FONT size=2 face="sans-serif">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, 2007;</FONT></P>
	</TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
	<TD nowrap valign=top>
<FONT size=2 face="sans-serif">(c)</FONT></TD>
	<TD width=100%>
<P align="left"><FONT size=2 face="sans-serif">the description of the Company&#146;s
    Common Stock contained in 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 as  amended by Amendment No.1 to Form 8-A, dated November
    21, 2006 (File No.</FONT> <FONT size=2 face="sans-serif">001-09750), and
    filed with the Commission on November 21, 2006; and</FONT></P>
	</TD>
</TR>
<TR>
<TD>&nbsp;</TD>	<TD width=100%>
<P align="left">&nbsp;</P>
	</TD>
</TR>
<TR>
	<TD nowrap valign=top>
<FONT size=2 face="sans-serif">(d)</FONT></TD>
	<TD width=100%>
<P align="left"><FONT size=2 face="sans-serif">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></P>
	</TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR></TABLE>
<P align="left">
<FONT size=2 face="sans-serif">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>
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<P align="left">
<B><FONT size=2 face="sans-serif">Item 4.</FONT></B><FONT size=2 face="serif"> </FONT><B><FONT size=2 face="sans-serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Description of Securities.</FONT></B><FONT size=2 face="serif"> </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="sans-serif">The Company&#146;s Common Stock is registered under Section 12 of the Exchange Act.</FONT><FONT size=2 face="serif"> </FONT></P>
<P align="left">
<B><FONT size=2 face="sans-serif">Item 5.</FONT></B><FONT size=2 face="serif"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT size=2 face="sans-serif">Interests of Named Experts and Counsel.</FONT></B><FONT size=2 face="serif"> </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="sans-serif">Not Applicable.</FONT><FONT size=2 face="serif"> </FONT></P>
<P align="left">
<B><FONT size=2 face="sans-serif">Item 6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indemnification of Directors and Officers. </FONT></B></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="sans-serif">Pursuant to the Delaware General Corporation Law, as amended (the &#147;DGCL&#148;), a corporation may indemnify any person who was or is a party or is threatened to be made a party to any
threatened, pending or completed action, suit or proceedings, by reason of the fact that such person is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer,
employee or agent of another entity, against expenses (including attorneys&#146; fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by such person in connection with such action, suit or proceedings if such
person acted in good faith and in a manner such person reasonably believed to be in or not opposed to the best interests of the corporation, and with respect to any criminal action or proceedings, had no reasonable cause to believe his conduct was
unlawful. </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="sans-serif">However, the DGCL does not permit indemnification in any derivative action, which is an action by or in the right of the corporation,  if such person shall have been adjudged to be liable
to the corporation unless and only to the extent that a court determines upon application that, despite the adjudication of liability, such person is fairly and reasonably entitled to indemnity for such expenses that the court deems proper. Any such
person who successfully defends any proceedings subject to the DGCL&#146;s indemnification provisions must be indemnified by the corporation for reasonable expenses incurred in connection therewith, including attorneys&#146; fees. </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="sans-serif">To the fullest extent permitted by the DGCL, the Registrant&#146;s Certificate of Incorporation and ByLaws require the Registrant to indemnify its current and former directors and officers
who, in such capacity, are a party or threatened to be made a party to any type of proceedings. In addition, such indemnification is also required for current and former directors and officers who are serving or have served as directors, officers,
employees and agents of other entities at the request of the Registrant. This indemnity is available to such persons against all liability and loss suffered and expenses reasonably incurred by such persons in connection with any proceedings.  In
certain cases, the indemnified person will be entitled to the advancement of certain expenses. To the extent authorized from time to time by its Board of Directors, the Registrant may provide indemnification and expense advancement rights to any
employee or agent of the Registrant. </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="sans-serif">As permitted under the DGCL, the Registrant&#146;s Certificate of Incorporation eliminates the liability of its directors to the Registrant or its stockholders for monetary damages for
breach of the directors&#146; fiduciary duties, except to the extent prohibited by the DGCL.  In addition, the Registrant maintains directors&#146; and officers&#146; liability insurance that, under certain circumstances, would cover alleged
violations of the DGCL. </FONT></P>

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<P align="left">
<B><FONT size=2 face="sans-serif">Item 7.</FONT></B><FONT size=2 face="serif"> </FONT><B><FONT size=2 face="sans-serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exemption From Registration Claimed.</FONT></B><FONT size=2 face="serif"> </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="sans-serif">Not Applicable. </FONT></P>
<P align="left">
<B><FONT size=2 face="sans-serif">Item 8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exhibits.</FONT></B><FONT size=2 face="sans-serif"> </FONT></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD width="12%" align=left nowrap>
<U><FONT size=2 face="sans-serif">Exhibit Number</FONT></U>	</TD>
	<TD width="1%">&nbsp;	</TD>
	<TD width="87%" align=left nowrap>
<U><FONT size=2 face="sans-serif">Description</FONT></U>	</TD>
</TR>
<TR align="left">
	<TD colspan=3>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">5</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">Opinion of Matthew A. Cole, Esq., special counsel to the Company, as to the</FONT>	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">legality of the shares.</FONT>	</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">23(a)</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">Consent of Deloitte &amp; Touche LLP.</FONT>	</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">23(b)</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">Consent of Matthew A. Cole, Esq. (included in Exhibit 5).</FONT>	</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">24</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">Powers of Attorney (included on signature page).</FONT>	</TD>
</TR>
</TABLE>
<BR>
<P align="left">
<B><FONT size=2 face="sans-serif">Item 9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Undertakings. </FONT></B></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="sans-serif">The Registrant hereby undertakes:</FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="sans-serif">(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 align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="sans-serif">(i) to include any prospectus required by Section 10(a)(3) of the Act;</FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="sans-serif">(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 &#147;Calculation of Registration Fee&#148; table in the effective Registration Statement; and </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="sans-serif">(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 align="left">
<FONT size=2 face="sans-serif">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</FONT></P>

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<FONT size=2 face="sans-serif">Exchange Act that are incorporated by reference in this Registration Statement. </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="sans-serif">(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="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="sans-serif">(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 align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="sans-serif">(d) That, for purposes of determining any liability under the Act, each filing of the Registrant&#146;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 align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="sans-serif">(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 align="left">&nbsp;</P>
<HR noshade align="center" width="100%" size=4>

<P align="left" style="page-break-before:always"></P><PAGE>
<br>

<P align="center">
<B><FONT size=2 face="sans-serif">SIGNATURES</FONT></B></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="sans-serif"> 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 size=2 face="sans-serif"> </FONT></B><FONT size=2 face="sans-serif">30th
day of May, 2008. </FONT></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD width="57%" align=left nowrap>&nbsp;</TD>
	<TD colspan="2" align=left nowrap>
      <FONT size=2 face="sans-serif">SOTHEBY&#146;S</FONT>	</TD>
	<TD width="10%" align=left nowrap>&nbsp;</TD>
</TR>
<TR>
  <TD>&nbsp;</TD>
	<TD width="3%">&nbsp;</TD>
	<TD width="30%">&nbsp;	</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
  <TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;	</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
  <TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;	</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
	<TD align=left nowrap><font size=2 face="sans-serif">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="sans-serif">/s/
    William F. Ruprecht</FONT></TD>
    <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
	<TD align=left nowrap>&nbsp;</TD>
	<TD align=left nowrap><FONT size=2 face="sans-serif">William F. Ruprecht</FONT>	</TD>
    <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
	<TD align=left nowrap>&nbsp;</TD>
	<TD align=left nowrap><FONT size=2 face="sans-serif">President and Chief Executive Officer</FONT>	</TD>
    <TD align=left nowrap>&nbsp;</TD>
</TR>
</TABLE>
<BR>
<P align="center">
<FONT size=2 face="sans-serif">POWER OF ATTORNEY</FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="sans-serif">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. </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="sans-serif"> 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>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD width="31%" align=left nowrap>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<U><FONT size=2 face="sans-serif">Signature</FONT></U>	</TD>
	<TD width="9%">&nbsp;	</TD>
	<TD width="28%" align=center nowrap><u><font size=2 face="sans-serif">Title</font></u> </TD>
	<TD width="14%">&nbsp;	</TD>
	<TD width="18%" align=left nowrap><u><font size=2 face="sans-serif">Date</font></u> </TD>
</TR>
<TR>
	<TD colspan=5>&nbsp;	</TD>
</TR>
<TR>
	<TD colspan=5>&nbsp;	</TD>
</TR>
<TR>
	<TD colspan=5>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="sans-serif">/s/
    Michael I. Sovern</FONT> </TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">Chairman of the Board</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">May 30, 2008</FONT>	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">Michael I. Sovern</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR>
	<TD colspan=5>&nbsp;	</TD>
</TR>
<TR>
	<TD colspan=5>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="sans-serif">/s/
    The Duke of Devonshire</FONT> </TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">Deputy Chairman of the Board</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">May 30, 2008</FONT>	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">The Duke of Devonshire</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR>
	<TD colspan=5>&nbsp;	</TD>
</TR>
<TR>
	<TD colspan=5>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="sans-serif">/s/
    William F. Ruprecht</FONT> </TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">President, Chief Executive</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">May 30, 2008</FONT>	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">William F. Ruprecht</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">Officer and Director</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
</TABLE>
<BR>

<HR noshade align="center" width="100%" size=4>

<P align="left" style="page-break-before:always"></P><PAGE>
<br>

<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD width="31%" align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="sans-serif">/s/
	    William S. Sheridan</FONT> </TD>
	<TD width="9%">&nbsp;	</TD>
	<TD width="28%" align=left nowrap>
<FONT size=2 face="sans-serif">Executive Vice President and</FONT>	</TD>
	<TD width="14%">&nbsp;	</TD>
	<TD width="18%" align=left nowrap>
<FONT size=2 face="sans-serif">May 30, 2008</FONT>	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">William S. Sheridan</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">Chief Financial Officer</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR>
	<TD colspan=5>&nbsp;	</TD>
</TR>
<TR>
	<TD colspan=5>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="sans-serif">/s/
	    John M. Angelo</FONT> </TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">Director</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">May 30, 2008</FONT>	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">John M. Angelo</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR>
	<TD colspan=5>&nbsp;	</TD>
</TR>
<TR>
	<TD colspan=5>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="sans-serif">/s/
	    Michael Blakenham</FONT> </TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">Director</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">May 30, 2008</FONT>	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">Michael Blakenham</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR>
	<TD colspan=5>&nbsp;	</TD>
</TR>
<TR>
	<TD colspan=5>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="sans-serif">/s/
	    Allen Questrom</FONT> </TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">Director</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">May 30, 2008</FONT>	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">Allen Questrom</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR>
	<TD colspan=5>&nbsp;	</TD>
</TR>
<TR>
	<TD colspan=5>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;">/s/ <FONT size=2 face="sans-serif">Donald
    M. Stewart</FONT> </TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">Director</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">May 30, 2008</FONT>	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">Donald M. Stewart</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR>
	<TD colspan=5>&nbsp;	</TD>
</TR>
<TR>
	<TD colspan=5>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;">/s/ <FONT size=2 face="sans-serif">Robert
    S. Taubman</FONT> </TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">Director</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">May 30, 2008</FONT>	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">Robert S. Taubman</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR>
	<TD colspan=5>&nbsp;	</TD>
</TR>
<TR>
	<TD colspan=5>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;">/s/ <FONT size=2 face="sans-serif">Diana
    L. Taylor</FONT> </TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">Director</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">May 30, 2008</FONT>	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">Diana L. Taylor</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR>
	<TD colspan=5>&nbsp;	</TD>
</TR>
<TR>
	<TD colspan=5>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;">/s/ <FONT size=2 face="sans-serif">Dennis
    M. Weibling</FONT> </TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">Director</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">May 30, 2008</FONT>	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">Dennis M. Weibling</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR>
	<TD colspan=5>&nbsp;	</TD>
</TR>
<TR>
	<TD colspan=5>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;">/s/ <FONT size=2 face="sans-serif">Robin
    G. Woodhead</FONT> </TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">Executive Vice President and</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">May 30, 2008</FONT>	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">Robin G. Woodhead</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">Director</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR>
	<TD colspan=5>&nbsp;	</TD>
</TR>
<TR>
	<TD colspan=5>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;">/s/ <FONT size=2 face="sans-serif">Kevin
    M. Delaney</FONT> </TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">Senior Vice President,</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">May 30, 2008</FONT>	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">Kevin M. Delaney</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">Controller and Chief Accounting</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">Officer</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
</TABLE>
<p>&nbsp;</p>
<p><BR>

</p>
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<P align="left" style="page-break-before:always"></P><PAGE>
<br>

<P align="center">
<B><FONT size=2 face="sans-serif">Exhibit Index</FONT></B></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD width="14%" align=left nowrap>
<U><FONT size=2 face="sans-serif">Exhibit Number</FONT></U>	</TD>
	<TD width="5%">&nbsp;	</TD>
	<TD width="81%" align=left nowrap>
<U><FONT size=2 face="sans-serif">Description</FONT></U>	</TD>
</TR>
<TR align="left">
	<TD colspan=3>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">5</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">Opinion of Matthew A. Cole, Esq., special counsel to the Company, as to the</FONT>	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">legality of the shares.</FONT>	</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">23(a)</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">Consent of Deloitte &amp; Touche LLP</FONT>	</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">23(b)</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">Consent of Matthew A. Cole, Esq. (included in Exhibit 5).</FONT>	</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">24</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="sans-serif">Powers of Attorney (included on signature page).</FONT>	</TD>
</TR>
</TABLE>
<p>&nbsp;</p>
<p><BR>

</p>
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</HTML>
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{"company-data": {"conformed-name": "SOTHEBYS", "cik": "0000823094", "assigned-sic": "7389", "irs-number": "382478409", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-151285", "film-number": "08869991"}, "business-address": {"street1": "1334 YORK AVENUE", "city": "NEW YORK", "state": "NY", "zip": "10021", "phone": "212-606-7000"}, "mail-address": {"street1": "1334 YORK AVENUE", "city": "NEW YORK", "state": "NY", "zip": "10021"}, "former-company": {"former-conformed-name": "SOTHEBYS HOLDINGS INC", "date-changed": "19920703"}}
As filed with the Securities and Exchange Commission on May 30, 2008
Registration No.
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
__________________________________________
FORM S-8
REGISTRATION STATEMENT
Under
THE SECURITIES ACT OF 1933
__________________________________________
SOTHEBY'S
(Exact name of registrant as specified in its charter)
Delaware
38-2478409
(State or other jurisdiction of incorporation or organization)
(I.R.S. Employer Identification Number)
1334 York Avenue
10021
New York, New York
(Address of Principal Executive Offices)
(Zip Code)
SOTHEBY'S AMENDED AND RESTATED RESTRICTED STOCK PLAN
(Full title of the plan)
__________________________________________
Gilbert L. Klemann, II
Executive Vice President, Worldwide General Counsel and Secretary
Sotheby's.
1334 York Avenue
New York, New York 10021
(212) 606-7000
(Name, address and telephone number, including area code, of agent for service)
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of "large accelerated filer,"
"accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act. (Check one):
Large accelerated filer _
x
_
Accelerated filer   ___
Non-accelerated filer   ___
(Do not check if a smaller reporting company)
Smaller reporting company   ___
CALCULATION OF REGISTRATION FEE
Proposed
Proposed
maximum
maximum
Title of securities to be
Amount to be
offering price per
aggregate
Amount of
registered
registered
share (1)
offering price
registration fee
Common Stock
666,086(2)
$25.785
$17,175,027
$675.00
(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 Sotheby's common stock
    as reported on the New York Stock Exchange on
May 27, 2008.
(2) The shares of common stock being registered pursuant to this Form S-8 are in addition to the shares of common stock  reserved for issuance under the Sotheby's Amended and Restated Restricted Stock Plan, as
amended, and its predecessor plan that were registered  pursuant to previously filed registration statements on Form S-8.
EXPLANATORY NOTE
Sotheby's,
a Delaware corporation (the "Registrant") is filing this Registration
Statement on Form S-8 with respect to the Sotheby's Amended and Restated
Restricted Stock Plan (as amended, the
"Plan") in order to register 666,086 shares of the Registrant's
Common Stock, par value $0.01 per share, that the Registrant has withheld
from time to time for tax purposes upon the vesting of restricted stock grants
under the  Plan. In accordance with the terms of the Plan, the holder of these
shares is deemed to have surrendered them immediately before the vesting of a
particular portion of a grant. The withheld shares are then available for future
restricted stock  awards under the Plan.
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, 2007, filed with the Securities and Exchange Commission (the "Commission") on
February 27, 2008 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, 2007;
(c)
the description of the Company's
    Common Stock contained in 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 as  amended by Amendment No.1 to Form 8-A, dated November
    21, 2006 (File No.
001-09750), and
    filed with the Commission on November 21, 2006; 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 4.
Description of Securities.
The Company's Common Stock is registered under Section 12 of the Exchange Act.
Item 5.
Interests of Named Experts and Counsel.
Not Applicable.
Item 6.           Indemnification of Directors and Officers.
Pursuant to the Delaware General Corporation Law, as amended (the "DGCL"), a corporation may indemnify any person who was or is a party or is threatened to be made a party to any
threatened, pending or completed action, suit or proceedings, by reason of the fact that such person is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer,
employee or agent of another entity, against expenses (including attorneys' fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by such person in connection with such action, suit or proceedings if such
person acted in good faith and in a manner such person reasonably believed to be in or not opposed to the best interests of the corporation, and with respect to any criminal action or proceedings, had no reasonable cause to believe his conduct was
unlawful.
However, the DGCL does not permit indemnification in any derivative action, which is an action by or in the right of the corporation,  if such person shall have been adjudged to be liable
to the corporation unless and only to the extent that a court determines upon application that, despite the adjudication of liability, such person is fairly and reasonably entitled to indemnity for such expenses that the court deems proper. Any such
person who successfully defends any proceedings subject to the DGCL's indemnification provisions must be indemnified by the corporation for reasonable expenses incurred in connection therewith, including attorneys' fees.
To the fullest extent permitted by the DGCL, the Registrant's Certificate of Incorporation and ByLaws require the Registrant to indemnify its current and former directors and officers
who, in such capacity, are a party or threatened to be made a party to any type of proceedings. In addition, such indemnification is also required for current and former directors and officers who are serving or have served as directors, officers,
employees and agents of other entities at the request of the Registrant. This indemnity is available to such persons against all liability and loss suffered and expenses reasonably incurred by such persons in connection with any proceedings.  In
certain cases, the indemnified person will be entitled to the advancement of certain expenses. To the extent authorized from time to time by its Board of Directors, the Registrant may provide indemnification and expense advancement rights to any
employee or agent of the Registrant.
As permitted under the DGCL, the Registrant's Certificate of Incorporation eliminates the liability of its directors to the Registrant or its stockholders for monetary damages for
breach of the directors' fiduciary duties, except to the extent prohibited by the DGCL.  In addition, the Registrant maintains directors' and officers' liability insurance that, under certain circumstances, would cover alleged
violations of the DGCL.
Item 7.
Exemption From Registration Claimed.
Not Applicable.
Item 8.           Exhibits.
Exhibit Number
Description
5
Opinion of Matthew A. Cole, Esq., special counsel to the Company, as to the
legality of the shares.
23(a)
Consent of Deloitte & Touche LLP.
23(b)
Consent of Matthew A. Cole, Esq. (included in Exhibit 5).
24
Powers of Attorney (included on signature page).
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.
(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.
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
30th
day of May, 2008.
SOTHEBY'S
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 30, 2008
Michael I. Sovern
/s/
    The Duke of Devonshire
Deputy Chairman of the Board
May 30, 2008
The Duke of Devonshire
/s/
    William F. Ruprecht
President, Chief Executive
May 30, 2008
William F. Ruprecht
Officer and Director
/s/
	    William S. Sheridan
Executive Vice President and
May 30, 2008
William S. Sheridan
Chief Financial Officer
/s/
	    John M. Angelo
Director
May 30, 2008
John M. Angelo
/s/
	    Michael Blakenham
Director
May 30, 2008
Michael Blakenham
/s/
	    Allen Questrom
Director
May 30, 2008
Allen Questrom
/s/
Donald
    M. Stewart
Director
May 30, 2008
Donald M. Stewart
/s/
Robert
    S. Taubman
Director
May 30, 2008
Robert S. Taubman
/s/
Diana
    L. Taylor
Director
May 30, 2008
Diana L. Taylor
/s/
Dennis
    M. Weibling
Director
May 30, 2008
Dennis M. Weibling
/s/
Robin
    G. Woodhead
Executive Vice President and
May 30, 2008
Robin G. Woodhead
Director
/s/
Kevin
    M. Delaney
Senior Vice President,
May 30, 2008
Kevin M. Delaney
Controller and Chief Accounting
Officer
Exhibit Index
Exhibit Number
Description
5
Opinion of Matthew A. Cole, Esq., special counsel to the Company, as to the
legality of the shares.
23(a)
Consent of Deloitte & Touche LLP
23(b)
Consent of Matthew A. Cole, Esq. (included in Exhibit 5).
24
Powers of Attorney (included on signature page).