<SUBMISSION>
<ACCESSION-NUMBER>0001179110-04-001799
<TYPE>3
<PUBLIC-DOCUMENT-COUNT>1
<PERIOD>20040126
<FILING-DATE>20040127
<REPORTING-OWNER>
<OWNER-DATA>
<CONFORMED-NAME>MARTIN RUSSEL W
<CIK>0001276394
</OWNER-DATA>
<FILING-VALUES>
<FORM-TYPE>3
<ACT>34
<FILE-NUMBER>000-49799
<FILM-NUMBER>04546119
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>6322 S 3000 E
<STREET2>STE 100
<CITY>SALT LAKE CITY
<STATE>UT
<ZIP>84121
<PHONE>8019473100
</BUSINESS-ADDRESS>
</REPORTING-OWNER>
<ISSUER>
<COMPANY-DATA>
<CONFORMED-NAME>OVERSTOCK COM INC
<CIK>0001130713
<ASSIGNED-SIC>7389
<IRS-NUMBER>870634302
<STATE-OF-INCORPORATION>UT
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<BUSINESS-ADDRESS>
<STREET1>6322 SOUTH 3000 EAST
<STREET2>STE 100
<CITY>SALT LAKE CITY
<STATE>UT
<ZIP>84121
<PHONE>8019473100
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>6322 SOUTH 3000 EAST
<STREET2>STE 100
<CITY>SALT LAKE CITY
<STATE>UT
<ZIP>84121
</MAIL-ADDRESS>
</ISSUER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>FORM 3 -
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0201</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2004-01-26</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001276394</rptOwnerCik>
            <rptOwnerName>MARTIN RUSSEL W</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>6322 SOUTH 3000 EAST</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 100</rptOwnerStreet2>
            <rptOwnerCity>SALT LAKE CITY</rptOwnerCity>
            <rptOwnerState>X1</rptOwnerState>
            <rptOwnerZipCode>84121</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>VP Merchandising &amp; Operations</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>177</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>177</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Stock options</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>5.06</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>1999-06-01</value>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2009-05-31</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>1341</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Stock options</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>5.07</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2000-08-13</value>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2010-08-12</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>207</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Stock options</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>5.07</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2002-02-22</value>
                <footnoteId id="F2"/>
            </exerciseDate>
            <expirationDate>
                <value>2006-02-21</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>4447</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Stock options</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>2.84</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2002-10-30</value>
                <footnoteId id="F2"/>
            </exerciseDate>
            <expirationDate>
                <value>2006-10-29</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>1130</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Stock options</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>5.07</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2003-01-22</value>
                <footnoteId id="F2"/>
            </exerciseDate>
            <expirationDate>
                <value>2007-01-21</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>5228</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Stock options</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>13.57</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2004-03-17</value>
                <footnoteId id="F2"/>
            </exerciseDate>
            <expirationDate>
                <value>2008-03-16</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>1000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Stock options</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>13.09</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2004-07-29</value>
                <footnoteId id="F2"/>
            </exerciseDate>
            <expirationDate>
                <value>2008-07-28</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>6647</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Stock options</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>18.58</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2005-01-23</value>
            </exerciseDate>
            <expirationDate>
                <value>2009-01-22</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>25000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Options are fully vested.</footnote>
        <footnote id="F2">Options vest as to 28% at the first anniversary of the date of grant (i.e. 1/23/2005) and an additional 2% each month thereafter.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Russel W. Martin</signatureName>
        <signatureDate>2004-01-26</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SUBMISSION>
