updated 2/24/2011 11:16:46 AM ET 2011-02-24T16:16:46

NEW YORK, Feb. 24, 2011 (GLOBE NEWSWIRE) -- The Board of Directors of Sotheby's (NYSE:BID) has declared a quarterly dividend of $0.05 for the first quarter of 2011. The first quarter dividend is payable on March 15, 2011 to shareholders of record as of March 7, 2011.

About Sotheby's

Sotheby's is a global company that engages in art auction, private sales and art-related financing activities. The Company operates in 40 countries, with principal salesrooms located in New York, London, Hong Kong and Paris. The Company also regularly conducts auctions in seven other salesrooms around the world. Sotheby's is listed on the New York Stock Exchange under the symbol BID.

CONTACT: Press Department
         212 606 7176
         Diana Phillips
         Diana.Phillips@Sothebys.com
         Investor Relations
         212 894 1023
         Jennifer Park
         Jennifer.Park@Sothebys.com

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