Sotheby's (BID) SC 13D Beneficial ownership report

EXHIBIT 2

TRANSACTIONS

The following table sets forth all transactions with respect to Shares effected in the last sixty days by the Reporting Persons on behalf of the Reporting Persons in respect of the Shares, inclusive of any transactions effected through 4:00 p.m., New York City time, on July 29, 2013. Except as otherwise noted below, all such transactions were purchases or sales of Shares effected in the open market, and the table includes commissions paid in per share prices.

	Trade		Buy/	Share/			Unit			Expiration
Fund	Date		Sell (1)	Options			Cost		Security	Date
Marcato, LP		05/31/2013	Buy		11,497			37.28	Common Stock	N/A
Marcato, LP		06/03/2013	Buy		23,270			37.22	Common Stock	N/A
Marcato, LP		06/05/2013	Buy		70,721			37.90	Common Stock	N/A
Marcato, LP		06/06/2013	Buy		30,240			37.88	Common Stock	N/A
Marcato, LP		06/11/2013	Buy		18,375			38.00	Common Stock	N/A
Marcato, LP		06/12/2013	Buy		88,158			37.55	Common Stock	N/A
Marcato, LP		06/13/2013	Buy		9,646			37.48	Common Stock	N/A
Marcato, LP		06/14/2013	Buy		4,979			37.97	Common Stock	N/A
Marcato, LP		06/19/2013	Buy		140,993			39.25	Common Stock	N/A
Marcato, LP		06/20/2013	Buy		58,357			37.47	Common Stock	N/A
Marcato, LP		06/21/2013	Sell		(549,823	)		37.41	Common Stock	N/A
Marcato, LP		06/21/2013	Buy		549,823			37.41	OTC Call Option (2)	06/20/2014
Marcato, LP		06/21/2013	Buy		44,214			37.29	Common Stock	N/A
Marcato, LP		06/24/2013	Buy		61,066			36.78	Common Stock	N/A
Marcato, LP		06/25/2013	Buy		45,242			37.23	Common Stock	N/A
Marcato, LP		06/26/2013	Sell		(150,522	)		37.75	Common Stock	N/A
Marcato, LP		06/26/2013	Buy		150,522			37.76	OTC Call Option (2)	06/20/2014
Marcato, LP		07/01/2013	Sell*		(129,606	)		38.39	Common Stock	N/A
Marcato, LP		07/01/2013	Buy		171,880			38.38	Common Stock	N/A
Marcato, LP		07/02/2013	Sell*		(77,775	)		38.59	Common Stock	N/A
Marcato, LP		07/02/2013	Buy		39,421			38.65	Common Stock	N/A
Marcato, LP		07/18/2013	Buy		34,068			41.49	Common Stock	N/A
Marcato, LP		07/19/2013	Buy		24,149			41.14	Common Stock	N/A
Marcato, LP		07/22/2013	Buy		26			41.23	Common Stock	N/A
Marcato, LP		07/23/2013	Sell		(60,645	)		41.72	Common Stock	N/A
Marcato, LP		07/23/2013	Sell		(117,522	)		41.72	Common Stock	N/A
Marcato, LP		07/23/2013	Buy		16,158			41.94	Common Stock	N/A
Marcato, LP		07/23/2013	Buy		312,527			1.27	OTC Call Option (2)	10/19/2013
Marcato, LP		07/23/2013	Sell		(312,527	)		0.98	OTC Put Option (3)	10/19/2013
Marcato, LP		07/24/2013	Buy		36,426			41.87	Common Stock	N/A
Marcato, LP		07/25/2013	Buy		21,636			41.66	Common Stock	N/A
Marcato, LP		07/26/2013	Buy		10,862			41.98	Common Stock	N/A
Marcato, LP		07/29/2013	Buy		33,063			41.87	Common Stock	N/A
Marcato II, LP		05/31/2013	Buy		1,097			37.28	Common Stock	N/A
Marcato II, LP		06/03/2013	Buy		2,136			37.22	Common Stock	N/A
Marcato II, LP		06/05/2013	Buy		6,490			37.90	Common Stock	N/A
Marcato II, LP		06/06/2013	Buy		2,775			37.88	Common Stock	N/A
Marcato II, LP		06/11/2013	Buy		1,687			38.00	Common Stock	N/A
Marcato II, LP		06/12/2013	Buy		8,091			37.55	Common Stock	N/A
Marcato II, LP		06/13/2013	Buy		885			37.48	Common Stock	N/A
Marcato II, LP		06/14/2013	Buy		457			37.97	Common Stock	N/A
Marcato II, LP		06/19/2013	Buy		12,937			39.25	Common Stock	N/A
Marcato II, LP		06/20/2013	Buy		5,354			37.47	Common Stock	N/A
Marcato II, LP		06/21/2013	Sell		(50,461	)		37.41	Common Stock	N/A
Marcato II, LP		06/21/2013	Buy		50,461			37.41	OTC Call Option (2)	06/20/2014
Marcato II, LP		06/21/2013	Buy		4,054			37.29	Common Stock	N/A
Marcato II, LP		06/24/2013	Buy		5,550			36.78	Common Stock	N/A
Marcato II, LP		06/25/2013	Buy		4,148			37.23	Common Stock	N/A
Marcato II, LP		06/26/2013	Sell		(13,751	)		37.75	Common Stock	N/A
Marcato II, LP		06/26/2013	Buy		13,751			37.76	OTC Call Option (2)	06/20/2014
Marcato II, LP		07/01/2013	Sell*		(9,628	)		38.39	Common Stock	N/A
Marcato II, LP		07/01/2013	Buy		12,768			38.38	Common Stock	N/A
Marcato II, LP		07/02/2013	Sell*		(5,773	)		38.59	Common Stock	N/A
Marcato II, LP		07/02/2013	Buy		2,737			38.65	Common Stock	N/A
Marcato II, LP		07/18/2013	Buy		1,990			41.50	Common Stock	N/A
Marcato II, LP		07/19/2013	Buy		1,783			41.14	Common Stock	N/A
Marcato II, LP		07/22/2013	Buy		2			41.23	Common Stock	N/A
Marcato II, LP		07/23/2013	Sell		(3,879	)		41.72	Common Stock	N/A
Marcato II, LP		07/23/2013	Sell		(9,270	)		41.72	Common Stock	N/A
Marcato II, LP		07/23/2013	Buy		1,192			41.94	Common Stock	N/A
Marcato II, LP		07/23/2013	Buy		23,066			1.27	OTC Call Option (2)	10/19/2013
Marcato II, LP		07/23/2013	Sell		(23,066	)		0.98	OTC Put Option (3)	10/19/2013
Marcato II, LP		07/24/2013	Buy		2,688			41.87	Common Stock	N/A
Marcato II, LP		07/25/2013	Buy		1,544			41.66	Common Stock	N/A
Marcato II, LP		07/26/2013	Buy		801			41.98	Common Stock	N/A
Marcato II, LP		07/29/2013	Buy		2,439			41.87	Common Stock	N/A

Marcato International Master Fund, Ltd.	05/31/2013	Buy	39,506		37.28		Common Stock	N/A
Marcato International Master Fund, Ltd.	06/03/2013	Buy	69,594		37.22		Common Stock	N/A
Marcato International Master Fund, Ltd.	06/05/2013	Buy	211,489		37.90		Common Stock	N/A
Marcato International Master Fund, Ltd.	06/06/2013	Buy	90,423		37.88		Common Stock	N/A
Marcato International Master Fund, Ltd.	06/11/2013	Buy	54,949		38.00		Common Stock	N/A
Marcato International Master Fund, Ltd.	06/12/2013	Buy	263,624		37.55		Common Stock	N/A
Marcato International Master Fund, Ltd.	06/13/2013	Buy	28,841		37.48		Common Stock	N/A
Marcato International Master Fund, Ltd.	06/14/2013	Buy	14,892		37.97		Common Stock	N/A
Marcato International Master Fund, Ltd.	06/19/2013	Buy	421,590		39.25		Common Stock	N/A
Marcato International Master Fund, Ltd.	06/20/2013	Buy	174,486		37.47		Common Stock	N/A
Marcato International Master Fund, Ltd.	06/21/2013	Sell	(1,644,163	)	37.41		Common Stock	N/A
Marcato International Master Fund, Ltd.	06/21/2013	Buy	1,644,163		37.41		OTC Call Option (2)	06/20/2014
Marcato International Master Fund, Ltd.	06/21/2013	Buy	132,166		37.29		Common Stock	N/A
Marcato International Master Fund, Ltd.	06/24/2013	Buy	181,761		36.78		Common Stock	N/A
Marcato International Master Fund, Ltd.	06/25/2013	Buy	135,222		37.23		Common Stock	N/A
Marcato International Master Fund, Ltd.	06/26/2013	Sell	(449,150	)	37.75		Common Stock	N/A
Marcato International Master Fund, Ltd.	06/26/2013	Buy	449,150		37.76		OTC Call Option (2)	06/20/2014
Marcato International Master Fund, Ltd.	07/01/2013	Sell*	(360,766	)	38.39		Common Stock	N/A
Marcato International Master Fund, Ltd.	07/01/2013	Buy	478,435		38.38		Common Stock	N/A
Marcato International Master Fund, Ltd.	07/02/2013	Sell*	(216,452	)	38.59	��	Common Stock	N/A
Marcato International Master Fund, Ltd.	07/02/2013	Buy	107,842		38.65		Common Stock	N/A
Marcato International Master Fund, Ltd.	07/18/2013	Buy	74,554		41.50		Common Stock	N/A
Marcato International Master Fund, Ltd.	07/19/2013	Buy	66,791		41.14		Common Stock	N/A
Marcato International Master Fund, Ltd.	07/22/2013	Buy	72		41.23		Common Stock	N/A
Marcato International Master Fund, Ltd.	07/23/2013	Sell	(150,476	)	41.72		Common Stock	N/A
Marcato International Master Fund, Ltd.	07/23/2013	Sell	(342,208	)	41.72		Common Stock	N/A
Marcato International Master Fund, Ltd.	07/23/2013	Buy	44,691		41.94		Common Stock	N/A
Marcato International Master Fund, Ltd.	07/23/2013	Buy	864,407		1.27		OTC Call Option (2)	10/19/2013
Marcato International Master Fund, Ltd.	07/23/2013	Sell	(864,407	)	0.98		OTC Put Option (3)	10/19/2013
Marcato International Master Fund, Ltd.	07/24/2013	Buy	100,749		41.87		Common Stock	N/A
Marcato International Master Fund, Ltd.	07/25/2013	Buy	58,620		41.66		Common Stock	N/A
Marcato International Master Fund, Ltd.	07/26/2013	Buy	30,037		41.98		Common Stock	N/A
Marcato International Master Fund, Ltd.	07/29/2013	Buy	91,425		41.87		Common Stock	N/A

(1) All transactions are open market except where noted by an *, in which case they are OTC transactions.

(2) Represents shares underlying American-style call options purchased in the over the counter market.

(3) Represents shares underlying European-style put options sold in the over the counter market.