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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 UcZZHv+990S11Ldv64E5zg==

<SEC-DOCUMENT>0001005477-06-004149.txt : 20060815
<SEC-HEADER>0001005477-06-004149.hdr.sgml : 20060815
<ACCEPTANCE-DATETIME>20060815183841
ACCESSION NUMBER:		0001005477-06-004149
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20060814
FILED AS OF DATE:		20060815
DATE AS OF CHANGE:		20060815

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			BAILEY GEORGE
		CENTRAL INDEX KEY:			0001248047

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-09750
		FILM NUMBER:		061036632

	BUSINESS ADDRESS:	
		STREET 1:		1334 YORK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10021
		BUSINESS PHONE:		2126067000

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SOTHEBYS
		CENTRAL INDEX KEY:			0000823094
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-BUSINESS SERVICES, NEC [7389]
		IRS NUMBER:				382478409
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1334 YORK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10021
		BUSINESS PHONE:		212-606-7000

	MAIL ADDRESS:	
		STREET 1:		1334 YORK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10021

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SOTHEBYS HOLDINGS INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar123.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2006-08-14</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000823094</issuerCik>
        <issuerName>SOTHEBYS</issuerName>
        <issuerTradingSymbol>BID</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001248047</rptOwnerCik>
            <rptOwnerName>BAILEY GEORGE</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1334 YORK AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10021</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <otherText>Mang. Dir. Sotheby's Europe</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2006-08-14</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>5854</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>30</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>47565</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Consists of 47,565 shares of unvested restricted stock</footnote>
    </footnotes>

    <remarks>On June 30, 2006, Sotheby's Holdings, Inc., a Michigan corporation, completed its reincorporation into the State of Delaware by merging into a wholly-owned Delaware subsidiary. The reincorporation and related proposals were approved by the shareholders of Sotheby's Holdings, Inc. at the annual meeting of shareholders held on May 8, 2006. The surviving corporation was renamed &quot;Sotheby's&quot; upon completion of the merger. In the merger, each outstanding share of Sotheby's Holdings, Inc. Class A Limited Voting Common Stock was converted into one share of Common Stock, par value $0.10 per share, of the surviving Delaware corporation.
The transaction reported on this Form 4 was pursuant to a 10b5-1 Plan entered into by Mr. Bailey on June 13, 2006.</remarks>

    <ownerSignature>
        <signatureName>/s/ Jonathan A. Olsoff as Attoney-in-Fact</signatureName>
        <signatureDate>2006-08-15</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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