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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">As filed with the Securities and Exchange
Commission on March 1, 2019.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right">File No. 333-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">UNITED STATES</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">WASHINGTON, D.C. 20549</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>FORM S-8</B></P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>REGISTRATION STATEMENT</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">UNDER</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">THE SECURITIES ACT OF 1933</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>SOTHEBY&rsquo;S</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><I>(Exact Name of Registrant as Specified
in its Charter)</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font-size: 12pt; text-align: center"><FONT STYLE="font: 11pt Arial, Helvetica, Sans-Serif"><B>Delaware</B></FONT><BR>
<FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><I>(State or Other Jurisdiction of</I></FONT><BR>
<FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><I>Incorporation or Organization)</I></FONT></TD>
    <TD STYLE="width: 50%; font-size: 12pt; text-align: center"><FONT STYLE="font: 11pt Arial, Helvetica, Sans-Serif"><B>38-2478409</B></FONT><BR>
<FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><I>(I.R.S. Employer</I></FONT><BR>
<FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><I>Identification No.)</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt; text-align: center">&nbsp;</TD>
    <TD STYLE="font-size: 11pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 12pt; text-align: center"><FONT STYLE="font: 11pt Arial, Helvetica, Sans-Serif"><B>1334 York Avenue </B></FONT><BR>
<FONT STYLE="font: 11pt Arial, Helvetica, Sans-Serif"><B>New York, New York</B></FONT><BR>
<FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><I>(Address of Principal Executive Offices)</I></FONT></TD>
    <TD STYLE="font-size: 12pt; text-align: center"><BR>
<FONT STYLE="font: 11pt Arial, Helvetica, Sans-Serif"><B>10021</B></FONT><BR>
<FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><I>(Zip Code)</I></FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>SOTHEBY&rsquo;S 2018 EQUITY INCENTIVE
PLAN</B></P>


<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><I>(Full Title of the Plan)</I></P>


<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>David G. Schwartz</B></P>


<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>Senior Vice President, Chief Securities
Counsel and Corporate Secretary</B></P>


<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>Sotheby&rsquo;s</B></P>


<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>1334 York Avenue </B></P>


<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>New York, New York 10021</B></P>


<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><I>(Name and Address of Agent for Service)</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>(212) 606-7000</B></P>


<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><I>(Telephone Number, Including Area Code,
of Agent for Service)</I></P>


<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><I>Copies to:</I></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>David M. Eaton</B></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>Kilpatrick Townsend&nbsp;&amp; Stockton
LLP</B></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>1100 Peachtree Street, N.E.</B></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>Atlanta, Georgia 30309-4530</B></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>(404) 815-6051</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">Indicate by check mark
whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company
or an emerging growth company. See the definitions of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer,&rdquo; &ldquo;smaller
reporting company&rdquo; and &ldquo;emerging growth company&rdquo; in Rule 12b-2 of the Exchange Act. (Check one):</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 68%; padding-bottom: 6pt; font-size: 11pt; text-align: justify"><FONT STYLE="font: 11pt Arial, Helvetica, Sans-Serif">Large
accelerated filer</FONT>&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&thorn;</FONT></TD>
    <TD STYLE="width: 32%; padding-bottom: 6pt; font-size: 11pt; text-align: justify"><FONT STYLE="font: 11pt Arial, Helvetica, Sans-Serif">Accelerated filer&nbsp;&nbsp;</FONT><FONT STYLE="font: 11pt Wingdings">o</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt; text-align: justify"><FONT STYLE="font: 11pt Arial, Helvetica, Sans-Serif">Non-accelerated
    filer&nbsp;&nbsp;</FONT><FONT STYLE="font: 11pt Wingdings">o</FONT><FONT STYLE="font: 11pt Arial, Helvetica, Sans-Serif">
    (Do not check if a smaller reporting company)</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; font-size: 11pt; text-align: justify"><FONT STYLE="font: 11pt Arial, Helvetica, Sans-Serif">Smaller reporting company &nbsp;</FONT><FONT STYLE="font: 11pt Wingdings">o</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 11pt; text-align: justify"><FONT STYLE="font: 11pt Arial, Helvetica, Sans-Serif">Emerging growth company&nbsp;&nbsp;</FONT><FONT STYLE="font: 11pt Wingdings">o</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act.
</FONT><FONT STYLE="font: 11pt Wingdings">o</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>Calculation of Registration Fee</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 20%; border-top: black 1px solid; border-bottom: black 1px solid; padding-right: 6pt; padding-left: 6pt; font-size: 10pt; text-align: center; vertical-align: middle"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>Title of Securities</B></FONT><BR>
<FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>to be Registered</B></FONT></TD>
    <TD STYLE="width: 20%; border-top: black 1px solid; border-bottom: black 1px solid; padding-right: 6pt; padding-left: 6pt; font-size: 10pt; text-align: center; vertical-align: middle"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>Amount to</B></FONT><BR>
<FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>Be Registered (1)</B></FONT></TD>
    <TD STYLE="width: 20%; border-top: black 1px solid; border-bottom: black 1px solid; padding-right: 6pt; padding-left: 6pt; font-size: 10pt; text-align: center; vertical-align: top"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>Proposed Maximum</B></FONT><BR>
<FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>Offering Price</B></FONT><BR>
<FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>Per Share (2)</B></FONT></TD>
    <TD STYLE="width: 20%; border-top: black 1px solid; border-bottom: black 1px solid; padding-right: 6pt; padding-left: 6pt; font-size: 10pt; text-align: center; vertical-align: top"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>Proposed Maximum</B></FONT><BR>
<FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>Aggregate</B></FONT><BR>
<FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>Offering Price (2)</B></FONT></TD>
    <TD STYLE="width: 20%; border-top: black 1px solid; border-bottom: black 1px solid; padding-right: 6pt; padding-left: 6pt; font-size: 10pt; text-align: center; vertical-align: bottom">&nbsp;<BR>
<FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>Amount of</B></FONT><BR>
<FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>Registration Fee</B></FONT><BR>
<FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>(2)</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1px solid; padding-right: 6pt; padding-left: 6pt; font-size: 10pt; text-align: center"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Common Stock, <BR>
$0.01 par value per<BR>
share</FONT></TD>
    <TD STYLE="border-bottom: black 1px solid; padding-right: 6pt; padding-left: 6pt; font-size: 10pt; text-align: center"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">6,000,000 shares</FONT></TD>
    <TD STYLE="border-bottom: black 1px solid; padding-right: 6pt; padding-left: 6pt; font-size: 10pt; text-align: center"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">$41.535</FONT></TD>
    <TD STYLE="border-bottom: black 1px solid; padding-right: 6pt; padding-left: 6pt; font-size: 10pt; text-align: center"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">$249,200,000</FONT></TD>
    <TD STYLE="border-bottom: black 1px solid; padding-right: 6pt; padding-left: 6pt; font-size: 10pt; text-align: center"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">$30,205</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-size: 10pt; text-align: center">&nbsp;</TD></TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; font-size: 10pt">
<TD STYLE="width: 0; font-size: 10pt"></TD><TD STYLE="width: 18pt; font-size: 10pt">(1)</TD><TD STYLE="text-align: justify; font-size: 10pt">Pursuant to Rule 416(b), the number of shares of Common Stock being registered shall be adjusted
to include any additional securities that may become issuable in connection with, or as a result of, stock splits, stock dividends
or similar transactions.</TD></TR>
<TR STYLE="vertical-align: top; font-size: 10pt">
<TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="text-align: justify; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font-size: 10pt">
<TD STYLE="width: 0; font-size: 10pt"></TD><TD STYLE="width: 18pt; font-size: 10pt">(2)</TD><TD STYLE="text-align: justify; font-size: 10pt">Estimated solely for the purpose of computing the registration fee. Calculated pursuant to Rule
457(h) under the Securities Act of 1933, as amended, on the basis of $41.535 per share, which was the average of the high and low
prices of the Common Stock as reported on the New York Stock Exchange on February 25, 2019.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 9pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>PART I</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>INFORMATION REQUIRED IN THE SECTION 10(A)
PROSPECTUS</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">The Registrant files
this Registration Statement on Form S-8 in connection with the Sotheby&rsquo;s 2018 Equity Incentive Plan (the &ldquo;<U>Plan</U>&rdquo;).
The documents containing the information specified in Part I of Form S-8 will be sent or given to each participant in the Plan
as specified by Rule 428(b)(1) of the Securities Act of 1933, as amended (the &ldquo;<U>Securities Act</U>&rdquo;). These documents
and the documents incorporated by reference herein pursuant to Item 3 of Part II hereof, taken together, constitute a prospectus
that meets the requirements of Section 10(a) of the Securities Act.</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>PART II</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>INFORMATION REQUIRED IN THE REGISTRATION
STATEMENT</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 12pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 72pt"><B>ITEM 3.</B></TD>
    <TD><B> Incorporation of Documents by Reference.</B></TD></TR>
</TABLE>


<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">The Registrant hereby
incorporates by reference into this Registration Statement the following:</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(a) The
Registrant&rsquo;s Annual Report on Form 10-K for the fiscal year ended December 31, 2018, filed with the Securities and
Exchange Commission (the &ldquo;<U>Commission</U>&rdquo;) pursuant to the Securities Exchange Act of 1934, as amended (the
&ldquo;<U>Exchange Act</U>&rdquo;), on February 28, 2019;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(b) All other
reports filed pursuant to Section 13(a) or 15(d) of the Exchange Act since the end of the fiscal year covered by the report
referenced in Item 3(a) above, including the Registrant&rsquo;s Current Report on Form 8-K filed with the Commission on
February 14, 2019;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(c) The
description of the Registrant&rsquo;s Common Stock, Par Value $0.01 Per Share, set forth in Item 1 of Post-Effective
Amendment No. 1, filed on November 21, 2006, to the Registrant&rsquo;s Registration Statement on Form 8-A, and any amendment
or report filed for the purpose of updating such description; and</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(d) All documents
subsequently filed by the Registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act, prior to the filing of
a post-effective amendment which indicates that all securities offered have been sold or which deregisters all securities then
remaining unsold, from the date of filing of such documents.</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">Any statement contained
herein or in a document all or a portion of which is incorporated or deemed to be incorporated by reference herein shall be deemed
to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein or in
any other subsequently filed document which also is or</P>

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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">is deemed to be incorporated by reference
herein modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified
or superseded, to constitute a part of this Registration Statement.</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 12pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 72pt"><B>ITEM 4. </B></TD>
    <TD><B>Description of Securities.</B></TD></TR>
</TABLE>


<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Not applicable.</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 12pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 72pt"><B>ITEM 5. </B></TD>
    <TD><B>Interests of Named Experts and Counsel.</B></TD></TR>
</TABLE>


<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">None.</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 12pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 72pt"><B>ITEM 6. </B></TD>
    <TD><B>Indemnification of Directors and Officers.</B></TD></TR>
</TABLE>


<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">The Registrant is a corporation
organized under the laws of the State of Delaware. Section 102(b)(7) of the General Corporation Law (the &ldquo;<U>DGCL</U>&rdquo;)
enables a corporation incorporated in the State of Delaware to eliminate or limit, through provisions in its original or amended
certificate of incorporation, the personal liability of a director for violations of the director&rsquo;s fiduciary duties, except
(i) for any breach of the director&rsquo;s duty of loyalty to the corporation or its stockholders, (ii) for acts or omissions not
in good faith or which involve intentional misconduct or a knowing violation of law, (iii) any liability imposed pursuant to Section
174 of the DGCL (providing for liability of directors for unlawful payment of dividends or unlawful stock purchases or redemptions)
or (iv) for any transaction from which a director derived an improper personal benefit.</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">Section 145(a) of the
DGCL provides that a corporation may indemnify any person or persons, including officers and directors, who are, or are threatened
to be made, parties to any threatened, pending or completed legal action, suit or proceeding, whether civil, criminal, administrative,
or investigative (other than an action by or in the right of such corporation), by reason of the fact that such person is or was
an officer, director, employee or agent of such corporation, or is or was serving at the request of such corporation as a director,
officer, employee or agent of another corporation or enterprise, provided such officer, director, employee, or agent acted in good
faith and in a manner he or she reasonably believed to be in or not opposed to the corporation&rsquo;s best interests and, for
criminal proceedings, had no reasonable cause to believe that the challenged conduct was unlawful. The indemnity may include expenses
(including attorneys&rsquo; fees), judgments, fines, and amounts paid in settlement actually and reasonably incurred by such person
in connection with such action, suit or proceeding. Section 145(b) of the DGCL provides that a corporation may indemnify officers
and directors in an action by or in the right of the corporation under the same conditions, except that no indemnification is permitted
without judicial approval if the officer or director is adjudged to be liable to the corporation. Pursuant to Section 145(c) of
the DGCL, where a present or former officer or director of the corporation is successful on the merits or otherwise in the defense
of any action referred to above, the corporation must provide indemnification against the expenses that such officer or director
actually and reasonably incurred. Section 145(g) of the DGCL authorizes a corporation to purchase and provide liability insurance
for directors and officers for certain losses</P>

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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">arising from claims or charges made against
them while acting in their capacities as directors or officers of the corporation.</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">The Registrant&rsquo;s
Certificate of Incorporation (the &ldquo;<U>Charter</U>&rdquo;) provides that no director of the Registrant shall be personally
liable for monetary damages to the Registrant or its stockholders for violations of the director&rsquo;s fiduciary duties, except
to the extent that a director&rsquo;s liability may not be limited under the DGCL and other applicable law, including the limitations
of Section 102(b)(7) of the DGCL discussed above. To the fullest extent permitted by the DGCL and applicable law, the Charter and
the Registrant&rsquo;s By-Laws (the &ldquo;<U>By-Laws</U>&rdquo;) require the Registrant to indemnify any person who is a party
or threatened to be made a party or is otherwise involved in in any action, suit or proceeding by reason of the fact that such
person is or was a director or officer of the Registrant, or while a director or officer of the Registrant is or was serving at
the request of the Registrant as a director, officer, employee or agent of another entity, against all liability and loss suffered
and expenses (including attorneys&rsquo; fees) reasonably incurred. The Charter and the By-Laws allow, but do not require, the
Registrant to indemnify any employee or agent of the Registrant on the terms described in the preceding sentence, but only to the
extent authorized by the Board of Directors of the Registrant (under the Charter), or by the Board or the Chief Executive Office
of the Registration (under the By-Laws). Additionally, the Charter and the By-Laws allow the Registrant to provide for different
(including greater) indemnification pursuant to separate agreements with individuals.</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">The indemnification rights
provided in the By-Laws are contract rights of each indemnified person that vest at the time of the indemnified person&rsquo;s
service in one of the stated capacities and continue after the person&rsquo;s service ends. The Registrant, its Board of Directors
and its stockholders may not terminate these rights with respect to a person&rsquo;s service prior to the date of such termination.
The Registrant has confirmed the foregoing in indemnity agreements with each of its directors.</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">The Charter and By-Laws
restrict the Registrant&rsquo;s ability to change or repeal the indemnification obligations that they provide. No amendment or
repeal of the Charter may adversely affect the indemnification rights or protections provided by the Charter. Any amendment of
the By-Laws that in any way diminishes or limits any right of indemnification shall be prospective only and shall not adversely
affect any indemnification right as to any actual or alleged act or omission previously existing.</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">The By-Laws contain procedures
for individuals to obtain indemnification from the Registrant. In addition, the Charter and By-Laws provide that the corporation
may purchase and maintain liability insurance for any person who is or was a director, officer, employee or agent of the Registrant,
or who is or was serving at the request of the Registrant as a director, officer, employee or agent of another entity, against
any liability from claims or charges made against such a person while acting in his, her or its capacity as a director, officer,
employee or agent of the Registrant. The Registrant maintains directors&rsquo; and officers&rsquo; liability insurance that, under
certain circumstances, would cover alleged violations of the DGCL.</P>

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    <!-- Field: /Page -->


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 12pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 72pt"><B>ITEM 7. </B></TD>
    <TD><B>Exemption From Registration Claimed.</B></TD></TR>
</TABLE>


<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">Not applicable.</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 12pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 72pt"><B>ITEM 8. </B></TD>
    <TD><B>Exhibits.</B></TD></TR>
</TABLE>


<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 36pt">The exhibits included as part of this Registration
Statement are as follows:</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><U>Exhibit Number</U></FONT></TD>
    <TD STYLE="width: 60%; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><U>Description</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">5.1</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><A HREF="c93125_ex5-1.htm" STYLE="-sec-extract: exhibit">Opinion of Counsel to Registrant</A></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">23.1</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Consent of Counsel to Registrant (included in Exhibit 5.1)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">23.2</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><A HREF="c93125_ex23-2.htm" STYLE="-sec-extract: exhibit">Consent of independent registered public accounting firm</A></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">24.1</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Power of Attorney (included with signature page)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">99.1</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/823094/000119312518091276/d444175ddef14a.htm" STYLE="-sec-extract: exhibit">Sotheby&rsquo;s 2018 Equity Incentive Plan (incorporated by reference to Appendix A to the Definitive Proxy Statement of the Registrant filed with the Commission on March 22, 2018)</A></FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 12pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 72pt"><B>ITEM 9. </B></TD>
    <TD><B>Undertakings.</B></TD></TR>
</TABLE>


<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 36pt; text-align: right">&nbsp;</TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify">The undersigned Registrant hereby undertakes:</TD>
</TR></TABLE>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify; text-indent: 36pt">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
file, during any period in which offers or sales are being made, a post-effective amendment to this Registration
Statement:</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 72pt; text-align: justify; text-indent: 36pt">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
include any prospectus required by Section 10(a)(3) of the Securities Act;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 72pt; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 72pt; text-align: justify; text-indent: 36pt">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
reflect in the prospectus any facts or events arising after the effective date of the Registration Statement (or the most
recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the
information set forth in the Registration Statement. Notwithstanding the foregoing, any increase or decrease in 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</P>


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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 72pt; text-align: justify; text-indent: 0">Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a
20% change in the maximum aggregate offering price set forth in the &ldquo;Calculation of Registration Fee&rdquo; table in
the effective Registration Statement; and</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 72pt; text-align: justify; text-indent: 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 72pt; text-align: justify; text-indent: 36pt">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
include any material information with respect to the plan of distribution not previously disclosed in the Registration Statement
or any material change to such information in the Registration Statement;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 72pt; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify; text-indent: 36pt">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;That,
for the purpose of determining any liability under the Securities Act, each such post-effective amendment 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.</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify; text-indent: 36pt">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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.</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each
filing of the Registrant&rsquo;s annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and, where
applicable, each filing of an employee benefit plan&rsquo;s annual report pursuant to Section 15(d) of the Exchange Act) that
is incorporated by reference in the 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.</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insofar as
indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling
persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the
opinion of the Commission such indemnification is against public policy as expressed in the Securities 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 Securities Act and will be governed by the final adjudication of such issue.</P>

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    <!-- Field: /Page -->


<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">Pursuant to the requirements
of the Securities Act, 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 to be signed on its behalf by the undersigned, thereunto
duly authorized, in the City of New York, State of New York, on the 27<SUP>th</SUP> of February, 2019.</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>SOTHEBY&rsquo;S</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 43%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 40%">&nbsp;</TD>
    <TD STYLE="width: 15%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">By:&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1px solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">/s/Thomas S. Smith, Jr.</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Thomas S. Smith, Jr.</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">President and Chief Executive Officer </FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>POWER OF ATTORNEY</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">Each person whose signature
appears below hereby severally and individually constitutes and appoints Thomas S. Smith, Jr., Jonathan A. Olsoff and David G.
Schwartz, and each of them severally, with full power of substitution and resubstitution, the true and lawful attorneys and agents
of each of us to execute in the name, place and stead of each of us (individually and in any capacity stated below) any and all
amendments to this Registration Statement on Form S-8 and any subsequent registration statement filed by the Registrant pursuant
to Rule 462(b) of the Securities Act or to Instruction E to Form S-8, in each case which relates to this Registration Statement,
and all instruments necessary or advisable in connection therewith and to file the same with the Commission, each of said attorneys
and agents to have the power to act with or without the others and to have full power and authority to do and perform in the name
and on behalf of each of the undersigned every act whatsoever necessary or advisable to be done in the premises as fully and to
all intents and purposes as any of the undersigned might or could do in person, and we hereby ratify and confirm our signatures
as they may be signed by our said attorneys and agents or each of them to any and all such amendments and instruments.</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">Pursuant to the requirements
of the Securities Act of 1933, this Registration Statement has been signed by the following persons in the capacities indicated
on February 27, 2019.</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 12pt Arial, Helvetica, Sans-Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 45%; text-align: justify; border-bottom: Black 1px solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">/s/Jessica
    M. Bibliowicz</FONT></TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 50%; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Jessica
    M. Bibliowicz</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; border-bottom: Black 1px solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">/s/
    Linus W. L. Cheung</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Linus
    W. L. Cheung</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
</TABLE>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 12pt Arial, Helvetica, Sans-Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 45%; border-bottom: Black 1px solid; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">/s/Kevin
    C. Conroy</FONT></TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 50%; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Kevin
    C. Conroy</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1px solid; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">/s/Domenico
    De Sole</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Chairman of the Board</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Domenico
    De Sole</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1px solid; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">/s/The
    Duke of Devonshire</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Deputy Chairman of the Board</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The
    Duke of Devonshire</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1px solid; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">/s/Daniel
    S. Loeb</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Daniel
    S. Loeb</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1px solid; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">/s/Marsha
    E. Simms</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Director </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Marsha
    E. Simms</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1px solid; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">/s/Thomas
    S. Smith, Jr.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">President, Chief Executive Officer and </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Thomas
    S. Smith, Jr.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Director (principal executive officer)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1px solid; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">/s/Diana
    L. Taylor</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Diana
    L. Taylor</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1px solid; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">/s/Dennis
    M. Weibling</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Dennis
    M. Weibling</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1px solid; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">/s/Harry
    J. Wilson</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Harry
    J. Wilson</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1px solid; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">/s/Michael
    Goss</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Executive Vice President and Chief </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Michael
    Goss</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Financial Officer (principal financial officer)</FONT></TD></TR>
</TABLE>

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<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1px solid; text-align: justify; width: 45%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">/s/Kevin
    M. Delaney</FONT></TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 50%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Senior Vice President, Controller and Chief</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Kevin
    M. Delaney</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Accounting Officer (principal accounting officer)</FONT></TD></TR>
</TABLE>

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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>INDEX TO EXHIBITS FILED HEREWITH</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 45%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><U>Exhibit Number</U></FONT></TD>
    <TD STYLE="width: 55%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><U>Description</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">5.1</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Opinion of Counsel to Registrant</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">23.1</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Consent of Counsel to Registrant (included in Exhibit 5.1)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">23.2</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Consent of independent registered public accounting firm</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">24.1</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Power of Attorney (included with signature page)</FONT></TD></TR>
</TABLE>

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[{"type": "S-8", "sequence": "1", "filename": "c93125_s8.htm", "secsgml_size_bytes": 65830}]
{"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": "333-229993", "film-number": "19646758"}, "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 March 1, 2019.
File No. 333-
UNITED STATES
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
(State or Other Jurisdiction of
Incorporation or Organization)
38-2478409
(I.R.S. Employer
Identification No.)
1334 York Avenue
New York, New York
(Address of Principal Executive Offices)
10021
(Zip Code)
SOTHEBY'S 2018 EQUITY INCENTIVE
PLAN
(Full Title of the Plan)
David G. Schwartz
Senior Vice President, Chief Securities
Counsel and Corporate Secretary
Sotheby's
1334 York Avenue
New York, New York 10021
(Name and Address of Agent for Service)
(212) 606-7000
(Telephone Number, Including Area Code,
of Agent for Service)
Copies to:
David M. Eaton
Kilpatrick Townsend & Stockton
LLP
1100 Peachtree Street, N.E.
Atlanta, Georgia 30309-4530
(404) 815-6051
Indicate by check mark
whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company
or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller
reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act. (Check one):
Large
accelerated filer
þ
Accelerated filer
o
Non-accelerated
    filer
o
(Do not check if a smaller reporting company)
Smaller reporting company
o
Emerging growth company
o
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act.
o
Calculation of Registration Fee
Title of Securities
to be Registered
Amount to
Be Registered (1)
Proposed Maximum
Offering Price
Per Share (2)
Proposed Maximum
Aggregate
Offering Price (2)
Amount of
Registration Fee
(2)
Common Stock,
$0.01 par value per
share
6,000,000 shares
$41.535
$249,200,000
$30,205
(1)
Pursuant to Rule 416(b), the number of shares of Common Stock being registered shall be adjusted
to include any additional securities that may become issuable in connection with, or as a result of, stock splits, stock dividends
or similar transactions.
(2)
Estimated solely for the purpose of computing the registration fee. Calculated pursuant to Rule
457(h) under the Securities Act of 1933, as amended, on the basis of $41.535 per share, which was the average of the high and low
prices of the Common Stock as reported on the New York Stock Exchange on February 25, 2019.
PART I
INFORMATION REQUIRED IN THE SECTION 10(A)
PROSPECTUS
The Registrant files
this Registration Statement on Form S-8 in connection with the Sotheby's 2018 Equity Incentive Plan (the "
Plan
").
The documents containing the information specified in Part I of Form S-8 will be sent or given to each participant in the Plan
as specified by Rule 428(b)(1) of the Securities Act of 1933, as amended (the "
Securities Act
"). These documents
and the documents incorporated by reference herein pursuant to Item 3 of Part II hereof, taken together, constitute a prospectus
that meets the requirements of Section 10(a) of the Securities Act.
PART II
INFORMATION REQUIRED IN THE REGISTRATION
STATEMENT
ITEM 3.
Incorporation of Documents by Reference.
The Registrant hereby
incorporates by reference into this Registration Statement the following:
(a) The
Registrant's Annual Report on Form 10-K for the fiscal year ended December 31, 2018, filed with the Securities and
Exchange Commission (the "
Commission
") pursuant to the Securities Exchange Act of 1934, as amended (the
"
Exchange Act
"), on February 28, 2019;
(b) All other
reports filed pursuant to Section 13(a) or 15(d) of the Exchange Act since the end of the fiscal year covered by the report
referenced in Item 3(a) above, including the Registrant's Current Report on Form 8-K filed with the Commission on
February 14, 2019;
(c) The
description of the Registrant's Common Stock, Par Value $0.01 Per Share, set forth in Item 1 of Post-Effective
Amendment No. 1, filed on November 21, 2006, to the Registrant's Registration Statement on Form 8-A, and any amendment
or report filed for the purpose of updating such description; and
(d) All documents
subsequently filed by the Registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act, prior to the filing of
a post-effective amendment which indicates that all securities offered have been sold or which deregisters all securities then
remaining unsold, from the date of filing of such documents.
Any statement contained
herein or in a document all or a portion of which is incorporated or deemed to be incorporated by reference herein shall be deemed
to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein or in
any other subsequently filed document which also is or
1
is deemed to be incorporated by reference
herein modifies or supersedes such statement. Any such 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.
Not applicable.
ITEM 5.
Interests of Named Experts and Counsel.
None.
ITEM 6.
Indemnification of Directors and Officers.
The Registrant is a corporation
organized under the laws of the State of Delaware. Section 102(b)(7) of the General Corporation Law (the "
DGCL
")
enables a corporation incorporated in the State of Delaware to eliminate or limit, through provisions in its original or amended
certificate of incorporation, the personal liability of a director for violations of the director's fiduciary duties, except
(i) for any breach of the director's duty of loyalty to the corporation or its stockholders, (ii) for acts or omissions not
in good faith or which involve intentional misconduct or a knowing violation of law, (iii) any liability imposed pursuant to Section
174 of the DGCL (providing for liability of directors for unlawful payment of dividends or unlawful stock purchases or redemptions)
or (iv) for any transaction from which a director derived an improper personal benefit.
Section 145(a) of the
DGCL provides that a corporation may indemnify any person or persons, including officers and directors, who are, or are threatened
to be made, parties to any threatened, pending or completed legal action, suit or proceeding, whether civil, criminal, administrative,
or investigative (other than an action by or in the right of such corporation), by reason of the fact that such person is or was
an officer, director, employee or agent of such corporation, or is or was serving at the request of such corporation as a director,
officer, employee or agent of another corporation or enterprise, provided such officer, director, employee, or agent acted in good
faith and in a manner he or she reasonably believed to be in or not opposed to the corporation's best interests and, for
criminal proceedings, had no reasonable cause to believe that the challenged conduct was unlawful. The indemnity may include 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 proceeding. Section 145(b) of the DGCL provides that a corporation may indemnify officers
and directors in an action by or in the right of the corporation under the same conditions, except that no indemnification is permitted
without judicial approval if the officer or director is adjudged to be liable to the corporation. Pursuant to Section 145(c) of
the DGCL, where a present or former officer or director of the corporation is successful on the merits or otherwise in the defense
of any action referred to above, the corporation must provide indemnification against the expenses that such officer or director
actually and reasonably incurred. Section 145(g) of the DGCL authorizes a corporation to purchase and provide liability insurance
for directors and officers for certain losses
2
arising from claims or charges made against
them while acting in their capacities as directors or officers of the corporation.
The Registrant's
Certificate of Incorporation (the "
Charter
") provides that no director of the Registrant shall be personally
liable for monetary damages to the Registrant or its stockholders for violations of the director's fiduciary duties, except
to the extent that a director's liability may not be limited under the DGCL and other applicable law, including the limitations
of Section 102(b)(7) of the DGCL discussed above. To the fullest extent permitted by the DGCL and applicable law, the Charter and
the Registrant's By-Laws (the "
By-Laws
") require the Registrant to indemnify any person who is a party
or threatened to be made a party or is otherwise involved in in any action, suit or proceeding by reason of the fact that such
person is or was a director or officer of the Registrant, or while a director or officer of the Registrant is or was serving at
the request of the Registrant as a director, officer, employee or agent of another entity, against all liability and loss suffered
and expenses (including attorneys' fees) reasonably incurred. The Charter and the By-Laws allow, but do not require, the
Registrant to indemnify any employee or agent of the Registrant on the terms described in the preceding sentence, but only to the
extent authorized by the Board of Directors of the Registrant (under the Charter), or by the Board or the Chief Executive Office
of the Registration (under the By-Laws). Additionally, the Charter and the By-Laws allow the Registrant to provide for different
(including greater) indemnification pursuant to separate agreements with individuals.
The indemnification rights
provided in the By-Laws are contract rights of each indemnified person that vest at the time of the indemnified person's
service in one of the stated capacities and continue after the person's service ends. The Registrant, its Board of Directors
and its stockholders may not terminate these rights with respect to a person's service prior to the date of such termination.
The Registrant has confirmed the foregoing in indemnity agreements with each of its directors.
The Charter and By-Laws
restrict the Registrant's ability to change or repeal the indemnification obligations that they provide. No amendment or
repeal of the Charter may adversely affect the indemnification rights or protections provided by the Charter. Any amendment of
the By-Laws that in any way diminishes or limits any right of indemnification shall be prospective only and shall not adversely
affect any indemnification right as to any actual or alleged act or omission previously existing.
The By-Laws contain procedures
for individuals to obtain indemnification from the Registrant. In addition, the Charter and By-Laws provide that the corporation
may purchase and maintain liability insurance for any person who is or was a director, officer, employee or agent of the Registrant,
or who is or was serving at the request of the Registrant as a director, officer, employee or agent of another entity, against
any liability from claims or charges made against such a person while acting in his, her or its capacity as a director, officer,
employee or agent of the Registrant. The Registrant maintains directors' and officers' liability insurance that, under
certain circumstances, would cover alleged violations of the DGCL.
3
ITEM 7.
Exemption From Registration Claimed.
Not applicable.
ITEM 8.
Exhibits.
The exhibits included as part of this Registration
Statement are as follows:
Exhibit Number
Description
5.1
Opinion of Counsel to Registrant
23.1
Consent of Counsel to Registrant (included in Exhibit 5.1)
23.2
Consent of independent registered public accounting firm
24.1
Power of Attorney (included with signature page)
99.1
Sotheby's 2018 Equity Incentive Plan (incorporated by reference to Appendix A to the Definitive Proxy Statement of the Registrant filed with the Commission on March 22, 2018)
ITEM 9.
Undertakings.
(a)
The undersigned Registrant hereby undertakes:
(1)     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 Securities Act;
(ii)     To
reflect in the prospectus any facts or events arising after the effective date of the Registration Statement (or the most
recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the
information set forth in the Registration Statement. Notwithstanding the foregoing, any increase or decrease in 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
4
Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a
20% 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 the Registration Statement
or any material change to such information in the Registration Statement;
(2)     That,
for the purpose of determining any liability under the Securities Act, each such post-effective amendment 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.
(3)     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.
(b)     The
undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each
filing of the Registrant's annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and, where
applicable, each filing of an employee benefit plan's annual report pursuant to Section 15(d) of the Exchange Act) that
is incorporated by reference in the 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.
(c)     Insofar as
indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling
persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the
opinion of the Commission such indemnification is against public policy as expressed in the Securities 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 Securities Act and will be governed by the final adjudication of such issue.
5
SIGNATURES
Pursuant to the requirements
of the Securities Act, 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 to be signed on its behalf by the undersigned, thereunto
duly authorized, in the City of New York, State of New York, on the 27
th
of February, 2019.
SOTHEBY'S
By:
/s/Thomas S. Smith, Jr.
Thomas S. Smith, Jr.
President and Chief Executive Officer
POWER OF ATTORNEY
Each person whose signature
appears below hereby severally and individually constitutes and appoints Thomas S. Smith, Jr., Jonathan A. Olsoff and David G.
Schwartz, and each of them severally, with full power of substitution and resubstitution, the true and lawful attorneys and agents
of each of us to execute in the name, place and stead of each of us (individually and in any capacity stated below) any and all
amendments to this Registration Statement on Form S-8 and any subsequent registration statement filed by the Registrant pursuant
to Rule 462(b) of the Securities Act or to Instruction E to Form S-8, in each case which relates to this Registration Statement,
and all instruments necessary or advisable in connection therewith and to file the same with the Commission, each of said attorneys
and agents to have the power to act with or without the others and to have full power and authority to do and perform in the name
and on behalf of each of the undersigned every act whatsoever necessary or advisable to be done in the premises as fully and to
all intents and purposes as any of the undersigned might or could do in person, and we hereby ratify and confirm our signatures
as they may be signed by our said attorneys and agents or each of them to any and all such amendments and instruments.
Pursuant to the requirements
of the Securities Act of 1933, this Registration Statement has been signed by the following persons in the capacities indicated
on February 27, 2019.
/s/Jessica
    M. Bibliowicz
Director
Jessica
    M. Bibliowicz
/s/
    Linus W. L. Cheung
Director
Linus
    W. L. Cheung
S-
1
/s/Kevin
    C. Conroy
Director
Kevin
    C. Conroy
/s/Domenico
    De Sole
Chairman of the Board
Domenico
    De Sole
/s/The
    Duke of Devonshire
Deputy Chairman of the Board
The
    Duke of Devonshire
/s/Daniel
    S. Loeb
Director
Daniel
    S. Loeb
/s/Marsha
    E. Simms
Director
Marsha
    E. Simms
/s/Thomas
    S. Smith, Jr.
President, Chief Executive Officer and
Thomas
    S. Smith, Jr.
Director (principal executive officer)
/s/Diana
    L. Taylor
Director
Diana
    L. Taylor
/s/Dennis
    M. Weibling
Director
Dennis
    M. Weibling
/s/Harry
    J. Wilson
Director
Harry
    J. Wilson
/s/Michael
    Goss
Executive Vice President and Chief
Michael
    Goss
Financial Officer (principal financial officer)
S-
2
/s/Kevin
    M. Delaney
Senior Vice President, Controller and Chief
Kevin
    M. Delaney
Accounting Officer (principal accounting officer)
S-
3
INDEX TO EXHIBITS FILED HEREWITH
Exhibit Number
Description
5.1
Opinion of Counsel to Registrant
23.1
Consent of Counsel to Registrant (included in Exhibit 5.1)
23.2
Consent of independent registered public accounting firm
24.1
Power of Attorney (included with signature page)