FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public
Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

RAMIUS CAPITAL GROUP LLC 		2. Issuer Name and Ticker or Trading Symbol

SHARPER IMAGE CORP [ SHRP ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                      __ X __ 10% Owner
_____ Officer (give title below)      _____ Other (specify below)
(Last)          (First)          (Middle)

666 THIRD AVENUE, 26TH FLOOR,  		3. Date of Earliest Transaction (MM/DD/YYYY)

2/20/2008
(Street)

NEW YORK CITY, NY 10017
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

___ Form filed by One Reporting Person
_ X _ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8) 		4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock, par value $.01   2/20/2008     S    128000   D $0.3789   295915   I   By Parche LLC   (1) (2)
Common Stock, par value $.01   2/20/2008     S    672000   D $0.3789   1553555   I   By Starboard Value and Opp. Master Fund   (3)

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8) 		5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4) 		8. Price of Derivative Security
(Instr. 5) 		9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Explanation of Responses:
( 1)  Shares beneficially owned by Parche, LLC (Parche). As the sole non-managing member of Parche and owner of all economic interests therein, RCG Enterprise, Ltd (Enterprise) may be deemed the beneficial owner of the Shares beneficially owned by Parche. As the managing member of Parche, RCG Starboard Advisors, LLC (Starboard Advisors) may be deemed to beneficially own the Shares owned by Parche. As the sole member of Starboard Advisors, Ramius Capital Group, L.L.C. (Ramius) may be deemed to beneficially own the Shares owned by Parche. As the managing member of Ramius, C4S & Co., L.L.C. (C4S) may be deemed to beneficially own the Shares owned by Parche.
( 2)  (continued from previous footnote) As the managing members of C4S, each of Peter A. Cohen, Morgan B. Stark, Jeffrey M. Solomon and Thomas W. Strauss may be deemed to beneficially own the Shares owned by Parche. Each of Messrs. Cohen, Stark, Solomon and Strauss, Enterprise, Starboard Advisors, Ramius and C4S disclaims beneficial ownership of such Shares except to the extent of their pecuniary interest therein.
( 3)  Shares beneficially owned by Starboard Value and Opportunity Master Fund, Ltd. (Starboard). As the investment manager of Starboard, Starboard Advisors may be deemed to beneficially own the Shares owned by Starboard. As the sole member of Starboard Advisors, Ramius may be deemed to beneficially own the Shares owned by Starboard. As the managing member of Ramius, C4S may be deemed to beneficially own the Shares owned by Starboard. As the managing members of C4S, each of Messrs. Cohen, Stark, Solomon and Strauss may be deemed to beneficially own the Shares owned by Starboard. Each of Messrs. Cohen, Stark, Solomon and Strauss, Starboard Advisors, Ramius and C4S disclaims beneficial ownership of such Shares except to the extent of their pecuniary interest therein.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
RAMIUS CAPITAL GROUP LLC
666 THIRD AVENUE, 26TH FLOOR
NEW YORK CITY, NY 10017
X

C4S & CO LLC
666 THIRD AVENUE
NEW YORK CITY, NY 10017
X

COHEN PETER A
C/O RAMIUS CAPITAL GROUP, LLC
666 THIRD AVENUE
NEW YORK CITY, NY 10017
X
See Explanation of Responses
STARK MORGAN B
C/O RAMIUS CAPITAL GROUP, LLC
666 THIRD AVENUE
NEW YORK CITY, NY 10017
X

STRAUSS THOMAS W
C/O RAMIUS CAPITAL GROUP, LLC
666 THIRD AVENUE
NEW YORK CITY, NY 10017
X

SOLOMON JEFFREY M
C/O RAMIUS CAPITAL GROUP, LLC
666 THIRD AVENUE
NEW YORK CITY, NY 10017
X

Starboard Value & Opportunity Master Fund Ltd
C/O CITCO FUND SERVICES LTD
WEST BAY RD
 
X

Parche, LLC
666 THIRD AVENUE
NEW YORK CITY, NY 10017
X

RCG STARBOARD ADVISORS, LLC
666 THIRD AVENUE
NEW YORK CITY, NY 10017
X

RCG Enterprise Ltd
C/O CITCO FUND SERVICES LIMITED
CORPORATE CENTER, WEST BAY ROAD
GRAND CAYMAN 
X


Signatures
By: Ramius Capital Group, L.L.C.; By: /s/ Owen S. Littman, Authorized Signatory 2/22/2008
** Signature of Reporting Person Date

By: C4S & Co., L.L.C., By: /s/ Owen S. Littman, as Attorney in Fact for Jeffrey M. Solomon, as Managing Member 2/22/2008
** Signature of Reporting Person Date

By: /s/ Owen S. Littman, as Attorney in Fact for Peter A. Cohen 2/22/2008
** Signature of Reporting Person Date

By: /s/ Owen S. Littman, as Attorney in Fact for Morgan B. Stark 2/22/2008
** Signature of Reporting Person Date

By: /s/ Owen S. Littman, as Attorney in Fact for Thomas W. Strauss 2/22/2008
** Signature of Reporting Person Date

By: /s/ Owen S. Littman, as Attorney in Fact for Jeffrey M. Solomon 2/22/2008
** Signature of Reporting Person Date

By: Starboard Value and Opportunity Master Fund Ltd.; By: /s/ Owen S. Littman, Authorized Signatory 2/22/2008
** Signature of Reporting Person Date

By: Parche, LLC; By: /s/ Owen S. Littman, Authorized Signatory 2/22/2008
** Signature of Reporting Person Date

By: RCG Starboard Advisors, LLC; By: /s/ Owen S. Littman, Authorized Signatory 2/22/2008
** Signature of Reporting Person Date

By: RCG Enterprise, Ltd; By: /s/ Owen S. Littman, Authorized Signatory 2/22/2008
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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