SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* RUPRECHT WILLIAM F (Last) (First) (Middle) 38500 WOODWARD AVENUE SUITE 100 (Street) BLOOMFIELD HILLS MI 48304 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol SOTHEBYS HOLDINGS INC [ BID ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director 10% Owner X Officer (give title below) Other (specify below) CEO and President
	3. Date of Earliest Transaction (Month/Day/Year) 08/11/2004
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Ltd. Voting Common Stock	08/11/2004		C		400	A	(1)	400	D
Class A Ltd. Voting Common Stock	08/11/2004		S		220	D	$15.5	180	D
Class A Ltd. Voting Common Stock	08/11/2004		S		180	D	$15.54	0	D
Class A Ltd. Voting Common Stock	08/13/2004		C		6,600	A	(1)	6,600	D
Class A Ltd. Voting Common Stock	08/13/2004		S		1,500	D	$15	5,100	D
Class A Ltd. Voting Common Stock	08/13/2004		S		1,000	D	$15.04	4,100	D
Class A Ltd. Voting Common Stock	08/13/2004		S		4,100	D	$15.05	0	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee Stock Option-Right to Buy(2)	$10.875	08/11/2004		M			400	(3)	02/08/2005	Class B Common Stock	400	(5)	6,600	D
Class B Common Stock	(1)	08/11/2004		M		400		(1)	(1)	Class A Ltd. Voting Common Stock	400	$10.875	254,557(4)	D
Class B Common Stock	(1)	08/11/2004		C			400	(1)	(1)	Class A Ltd. Voting Common Stock	400	(1)	254,157(4)	D
Employee Stock Option-Right to Buy(2)	$10.875	08/13/2004		M			6,600	(3)	02/08/2005	Class B Common Stock	6,600	(5)	0	D
Class B Common Stock	(1)	08/13/2004		M		6,600		(1)	(1)	Class A Ltd. Voting Common Stock	6,600	$10.875	260,757(4)	D
Class B Common Stock	(1)	08/13/2004		C			6,600	(1)	(1)	Class A Ltd. Voting Common Stock	6,600	(1)	254,157(4)	D

Explanation of Responses:

1. The Issuer's Class B Common Stock is freely convertible into the Issuer's Class A Limited Voting Common Stock on a one-for-one basis.

2. Granted under the Issuer's 1987 Employee Stock Option Plan.

3. 20% of this grant vested on each of the following dates: 2/9/1996, 2/9/1997, 2/9/1998, 2/9/1999 and 2/9/2000.

4. This number includes 136,591 shares of Class B Common Stock acquired by Mr. Ruprecht from the Issuer under the Issuer's 2003 Restricted Stock Plan pursuant to the Issuer's Exchange Offer on March 31, 2004, all of which were previously reported in a timely fashion on a Form 4 filed with the Securities and Exchange Commission on April 2, 2004. These Shares were inadvertently excluded due to clerical error from this column in sveral intervening Form 4 and Form 4 amendment filings.

5. Not Applicable

Remarks:

Explanation of Responses: This Form 4 is being filed (i) to report Mr. Ruprecht's exercise of 7,000 options for the same number of the Issuer's Class B Common Stock shares at a price of $10.875 per share, the conversion of such Class B Common Stock shares to 7,000 Class A Limited Voting Common Stock shares and the sale of such Class A Limited Voting Common Stock shares; (ii) to submit a Confirming Statement regarding the authority of the individual listed therein to file certain Form 4 statements on behalf of Mr. Ruprecht's Class B Common Stock holdings as described in footnote (4) below.

	William F. Ruprecht	08/13/2004
	** Signature of Reporting Person	Date
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* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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