X0202 4 2005-12-13 0 0000823094 SOTHEBYS HOLDINGS INC BID 0001248047 BAILEY GEORGE 38500 WOODWARD AVENUE SUITE 100 BLOOMFIELD HILLS MI 48304 0 0 0 1 Mang. Dir. Sotheby's Europe Class A Limited Voting Common Stock 2005-12-13 4 M 0 7200 A 50361 D Class A Limited Voting Common Stock 2005-12-13 4 S 0 1900 18.51 D 48461 D Class A Limited Voting Common Stock 2005-12-13 4 S 0 4900 18.50 D 43561 D Class A Limited Voting Common Stock 2005-12-13 4 S 0 100 18.53 D 43461 D Class A Limited Voting Common Stock 2005-12-13 4 S 0 300 18.54 D 43161 D Class A Limited Voting Common Stock 2005-12-14 4 M 0 2800 A 45961 D Class A Limited Voting Common Stock 2005-12-14 4 S 0 2300 18.56 D 43661 D Class A Limited Voting Common Stock 2005-12-14 4 S 0 500 18.55 D 43161 D Employee Stock Option-Right to Buy 8.65 2005-12-13 4 M 0 7200 D 2013-08-05 Class A Limited Voting Common Stock 7200 50300 D Employee Stock Option-Right to Buy 8.65 2005-12-14 4 M 0 2800 D 2013-08-05 Class A Limited Voting Common Stock 2800 47500 D Not Applicable Mr. Bailey indirectly owns 1,400 shares included in this number which are owned by his wife. Granted under the Issuer's 1997 Employee Stock Option Plan 18,750 stock options vested on each of 8/5/04 and 8/5/05 respectively. This Form 4 is being filed to report a stock option exercise by Mr. Bailey for the following: the exercise of 10,000 options for the same number of the Issuer's Class A Limited Voting Common Stock shares at a price of $8.65 per share and the sale of such Class A Limited Voting Common Stock shares. /s/ George Bailey 2005-12-15