<DOCUMENT>
<TYPE>EX-21
<SEQUENCE>6
<FILENAME>ex-21.txt
<DESCRIPTION>EXHIBIT 21
<TEXT>

<PAGE>
                                                                      EXHIBIT 21

                    SUBSIDIARIES OF SOTHEBY'S HOLDINGS, INC.

    The significant subsidiaries of Sotheby's Holdings, Inc. which are wholly
owned except where indicated, are as follows:

<Table>
<Caption>
                                                              JURISDICTION OF
                                                               INCORPORATION
                                                              ---------------
<S>                                                           <C>
Sotheby's Holdings, Inc.                                      Michigan
    Sotheby's Financial Services, Inc.                        Nevada
    SPTC, Inc.                                                Nevada
    SFS Holdings, Inc.                                        Delaware
        Fine Art Insurance Ltd.                               Bermuda
    Sotheby's, Inc.                                           New York
    Sotheby's International Realty, Inc.                      Michigan
    Oatshare Limited                                          United Kingdom
        Sotheby's                                             United Kingdom
    Sotheby's Global Trading Company GmbH                     Switzerland

Other than the subsidiaries listed above, the Registrant has 22 directly and
indirectly controlled domestic subsidiaries and 35 directly and indirectly
controlled foreign subsidiaries.
</Table>


</TEXT>
</DOCUMENT>