UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported) - October 30, 2002 SOTHEBY'S HOLDINGS, INC. -------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) MICHIGAN 1-9750 38-2478409 -------------------------------- ---------- --------------- (State or other jurisdiction of (Commission File (IRS Employer incorporation or organization) Number) Identification No.) 38500 Woodward Avenue, Suite 100 BLOOMFIELD HILLS, MICHIGAN 48304 ---------------------------------------- ------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (248) 646-2400 ------------------- ITEM 5. Other Events The European Commission (the "Commission") has been conducting an investigation regarding anti-competitive practices by Christie's and Sotheby's (the "Company") since January 2000. On October 30, 2002, the Commission announced that it had issued a decision in which it determined that the Company and Christie's had breached the competition provisions of the Treaty establishing the European Community by agreeing to fix selling commissions and other trading conditions in connection with auctions in the European Union. Pursuant to this decision, the Commission has imposed a fine of approximately $20.1 million on the Company, payable within three months after the Company receives official notification of the decision, which is expected within a few days. This amount will be reflected as a special charge in the Company's financial statements for the quarter ended September 30, 2002. SOTHEBY'S HOLDINGS, INC. AND SUBSIDIARIES SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SOTHEBY'S HOLDINGS, INC. By: /s/ MICHAEL L. GILLIS ---------------------------- Michael L. Gillis Senior Vice President, Controller and Chief Accounting Officer Date: October 30, 2002