X0303 4/A 2010-12-15 2010-12-15 0 0000823094 SOTHEBYS BID 0001249593 BLAKENHAM MICHAEL 1334 YORK AVENUE NEW YORK NY 10021 1 0 0 0 Dividend Equivalent Rights 2010-12-15 4 A 0 33.21 A Common Stock 33.21 1948.30 D The Dividend Equivalent Rights have accrued under the Sotheby's 1998 Stock Compensation Plan for Non-Employee Directors (as amended and restated, the "Plan") with respect to Deferred Stock Units received by the reporting person under the Plan. The Deferred Stock Units and the Dividend Equivalent Rights will be settled 100% in Sotheby's Common Stock (except that fractional shares, if any, will be settled in cash) after the reporting person's termination of service on the Sotheby's Board. Not Applicable The Reporting Person was credited with an accrual of Dividend Equivalent Rights which was timely reported in a Form 4 on December 15, 2010 with the Securities and Exchange Commission ("SEC"). However, due to an inadvertent administrative error, the number of Derivative Securities Acquired figure and the amount of Securities Underlying Derivative Security figure was reported as 47.83 instead of 33.21. The foregoing error also resulted in the Number of Derivative Securities Beneficially Owned Following Reporting Transaction figure being reported as 1,962.92 instead of 1,948.30. This Form 4 corrects this error. /s/ Gary Chard as Attorney-In-Fact 2010-12-21