-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 EMzZP4foWZrUxDrt7u89xT6YHSr8nUO/cNpaqSr5KryKY8mUFmkgqPojA2SG4keN
 uMvaaCm3cKhZO+1PTfLB8A==

<SEC-DOCUMENT>0001179110-04-011432.txt : 20040525
<SEC-HEADER>0001179110-04-011432.hdr.sgml : 20040525
<ACCEPTANCE-DATETIME>20040525160028
ACCESSION NUMBER:		0001179110-04-011432
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040525
FILED AS OF DATE:		20040525

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			SCHWEGMAN SHAWN
		CENTRAL INDEX KEY:			0001268252

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-49799
		FILM NUMBER:		04830012

	MAIL ADDRESS:	
		STREET 1:		6322 S 3000 E
		STREET 2:		STE 100
		CITY:			SALT LAKE CITY
		STATE:			UT
		ZIP:			84121

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			OVERSTOCK COM INC
		CENTRAL INDEX KEY:			0001130713
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-BUSINESS SERVICES, NEC [7389]
		IRS NUMBER:				870634302
		STATE OF INCORPORATION:			UT
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		6322 SOUTH 3000 EAST
		STREET 2:		STE 100
		CITY:			SALT LAKE CITY
		STATE:			UT
		ZIP:			84121
		BUSINESS PHONE:		8019473100

	MAIL ADDRESS:	
		STREET 1:		6322 SOUTH 3000 EAST
		STREET 2:		STE 100
		CITY:			SALT LAKE CITY
		STATE:			UT
		ZIP:			84121
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>FORM 4 -
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2004-05-25</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001130713</issuerCik>
        <issuerName>OVERSTOCK COM INC</issuerName>
        <issuerTradingSymbol>OSTK</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001268252</rptOwnerCik>
            <rptOwnerName>SCHWEGMAN SHAWN</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>6322 SOUTH 3000 EAST</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 100</rptOwnerStreet2>
            <rptOwnerCity>SALT LAKE CITY</rptOwnerCity>
            <rptOwnerState>UT</rptOwnerState>
            <rptOwnerZipCode>84121</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>VP Technology</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable></nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock options</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>7.09</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2004-05-25</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>X</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>10586</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>7.09</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2001-03-10</value>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2005-03-09</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>10586</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>69414</value>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The options vested as to 28% of the total option grant on the first anniversary of the grant date (i.e. 3/10/2001) and 2% of the total option grant every month thereafter.</footnote>
        <footnote id="F2">Reflects total amount of options outstanding held by the reporting person following this reported transaction.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Shawn Schwegman</signatureName>
        <signatureDate>2004-05-25</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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