UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                  SCHEDULE 14A
                                 (RULE 14a-101)

                     INFORMATION REQUIRED IN PROXY STATEMENT

                            SCHEDULE 14A INFORMATION

PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934
                                (AMENDMENT NO. )

Filed by the Registrant / /

Filed by a Party other than the Registrant /X/

Check the appropriate box:


     / /    Preliminary Proxy Statement

     / /    Confidential,  For Use of the Commission  Only (as permitted by Rule
            14a-6(e)(2))

     / /    Definitive Proxy Statement

     /x/    Definitive Additional Materials

     / /    Soliciting Material Pursuant to Section 240.14a-12

                             BKF CAPITAL GROUP, INC.
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                (Name of Registrant as Specified in Its Charter)

                             STEEL PARTNERS II, L.P.
                             STEEL PARTNERS, L.L.C.
                             WARREN G. LICHTENSTEIN
                                  RONALD LABOW
                                  KURT SCHACHT
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    (Name of Persons(s) Filing Proxy Statement, if Other Than the Registrant)

     Payment of Filing Fee (Check the appropriate box):

     /X/    No fee required.

     / /    Fee computed on table below per Exchange Act Rules  14a-6(i)(1)  and
            0-11.

     (1)    Title of each class of securities to which transaction applies:


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     (2)    Aggregate number of securities to which transaction applies:


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     (3)    Per unit price or other  underlying  value of  transaction  computed
            pursuant  to  Exchange  Act Rule 0-11 (set forth the amount on which
            the filing fee is calculated and state how it was determined):


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     (4)    Proposed maximum aggregate value of transaction:


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     (5)    Total fee paid:


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     / /    Fee paid previously with preliminary materials:


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     / /    Check box if any part of the fee is offset as  provided  by Exchange
Act Rule  0-11(a)(2)  and identify the filing for which the  offsetting  fee was
paid previously.  Identify the previous filing by registration statement number,
or the Form or Schedule and the date of its filing.

     (1)    Amount previously paid:


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     (2)    Form, Schedule or Registration Statement No.:


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     (3)    Filing Party:


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     (4)    Date Filed:

                                      -2-


            Steel Partners II, L.P.  ("Steel") is filing materials  contained in
this Schedule 14A with the Securities and Exchange Commission in connection with
the  solicitation of proxies in support of the election of the nominees of Steel
to the Board of Directors of BKF Capital Group,  Inc. (the  "Company") and other
business proposals at the 2005 annual meeting of the stockholders of the Company
scheduled to be held on June 9, 2005, or any other meeting of stockholders  held
in  lieu  thereof,  and  any  adjournments,   postponements,   reschedulings  or
continuations thereof.

            Item  1:  The  following  voting  instructions  were  mailed  to the
Company's stockholders on May 27, 2005.

In  addition to  returning  your GOLD proxy card by mail there are also two easy ways to vote!


Vote by Telephone                                                Vote by Internet

Call Toll Free on a Touch-Tone Phone                             Go to Website

1-800-454-8683                                                   WWW.PROXYVOTE.COM

Follow these four easy steps:                                    Follow these four easy steps:

1.   Read the accompanying proxy material and                    1.   Read the accompanying proxy material and
     GOLD voting instruction form.                                    GOLD voting instruction form.
2.   Call 1-800-454-8683.                                        2.   Go to Website WWW.PROXYCARD.COM
3.   Enter your 12 digit Control Number located on the           3.   Enter your 12 digit Control Number located on the
     right hand side of your GOLD voting form.                        right hand side of your GOLD voting form.
4.   Follow the recorded instructions                            4.   Follow the instructions provided.

Your vote is important!                                          Your vote is important!
Call 1-800-454-8683 Anytime!                                     Go to WWW.PROXYVOTE.COM Anytime!