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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 2)*

OVERSTOCK.COM, INC.
(Name of Issuer)

Common Stock, par value $0.0001 per share
(Title of Class of Securities)

690370 10 1
(CUSIP Number)

Patrick M. Byrne
6322 South 3000 East, Suite 100
Salt Lake City, Utah 84121
(801) 947-3100
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)

February 17, 2004
(Date of Event which Requires Filing of this Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this Schedule because of Rule 13d-1(e), Rule 13d-1(f) or Rule 13d-1(g), check the following box: o

*The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act.


AMENDMENT NO. 2 TO
SCHEDULE 13D

CUSIP No.: 690370 10 1

1   Name of Reporting Person
Patrick M. Byrne
2   Check the Appropriate Box If A Member of a Group   (a)  o
                (b)  ý
3   SEC Use Only

 		           
4   Source of Funds
PF, WC(1)
5   Check Box If Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)
                o
6   Citizenship or Place of Organization
United States

Number of
Shares
 
7
 
Sole Voting Power
1,060,600(2)
 
 
Beneficially  
Owned by
Each		   8   Shared Voting Power
5,707,261(3)		    
Reporting  
Person
With		   9   Sole Dispositive Power
1,060,600
 		   
       
        10   Shared Dispositive Power
5,707,261
 		   
11   Aggregate Amount Beneficially Owned by Reporting Person
6,767,861
12   Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares    
                ý
13   Percent of Class Represented by Amount in Row (11)
40.6%
14   Type of Reporting Person
IN
(1)
Working capital of High Plains Investments LLC.

(2)
Includes 106,000 Shares reported that consist of vested options.

(3)
Includes 629,536 Shares reported that consist of vested warrants.


AMENDMENT NO. 2 TO
STATEMENT ON SCHEDULE 13D

        This Amendment No. 2 (this "Amendment") amends and supplements the Statement on Schedule 13D filed by Patrick M. Byrne, John B. Pettway, High Plains Investments LLC and Haverford Valley L.C. dated November 14, 2002, as amended to date (the "Original 13D") relating to shares of the common stock, par value $0.0001 per share (the "Shares") of Overstock.com, Inc., a Delaware corporation (the "Issuer"), whose principal executive offices are located at 6322 South 3000 East, Suite 100, Salt Lake City, Utah 84121. Capitalized terms used but not defined herein have the meanings ascribed to them in the Original 13D.


Item 2. Identity and Background

        Item 2 of the Original 13D is supplemented as follows:

        The names of the persons filing this Amendment are Patrick M. Byrne ("Dr. Byrne") and John B. Pettway ("Mr. Pettway"). Dr. Byrne is the President and Chairman of the Board of the Issuer.


Item 3. Source and Amount of Funds or Other Consideration

        Item 3 of the Original 13D is supplemented as follows:

        On February 17, 2004 Dr. Byrne purchased 620,000 Shares in open market transactions on the Nasdaq National Market System with his personal funds.


Item 4. Purpose of the Transaction

        Item 4 of the Original 13D is supplemented as follows:

        Dr. Byrne holds the Shares acquired as reported in this Amendment for the purpose of investment. Dr. Byrne may purchase additional shares.

        As the Issuer has previously announced, the Issuer is considering filing a registration statement with the Securities and Exchange Commission for a shelf offering of its common stock. The press release issued by the Issuer stated that the Issuer anticipates that the shelf registration statement will register up to 2.5 million shares and that there will be no selling stockholders.

        Dr. Byrne anticipates that the Board of Directors of the Issuer may fill a vacancy on the Board of Directors by appointing to the Board John J. Byrne, Jr., the father of Dr. Byrne and a former member of the Board of Directors.


Item 5. Interest in Securities of the Issuer

        Item 5 of the Original 13D is supplemented as follows:

        As set forth herein, Dr. Byrne beneficially owns 6,767,861 Shares, which represent 40.6% of the outstanding Shares, based upon the number of Shares outstanding as of the most recent practicable date, and calculated in accordance with Rule 13d-3. Dr. Byrne shares voting and dispositive power over 5,707,261 Shares with High Plains Investments LLC and Haverford Valley L.C., and shares voting and dispositive power over 201,693 Shares with High Plains Investments LLC, Haverford Valley L.C. and High Meadows Finance L.C. Dr. Byrne disclaims beneficial ownership of the Shares held by High Plains Investments LLC, High Meadows Finance L.C. and all other persons except to the extent of his pecuniary interest in each entity, respectively. Dr. Byrne has sole voting and dispositive power over 1,060,600 Shares, including 106,000 Shares subject to unexercised options.

        Mr. Pettway ceased to be the beneficial owner of more than five percent of the outstanding Shares on January 1, 2003.

        No transactions in the Shares were effected by Dr. Byrne in the last sixty days except that Dr. Byrne acquired beneficial ownership of 620,000 of the Shares described herein in open market purchases on the Nasdaq National Market System as described on Exhibit A to this Amendment.


SIGNATURE

        After reasonable inquiry and to the best of the knowledge and belief of the undersigned, each of the undersigned certifies that the information set forth in this Amendment No. 2 to Statement on Schedule 13D relating to him is true, complete and correct.

Dated: February 20, 2004

    /s/  PATRICK M. BYRNE      
Patrick M. Byrne

 
 
/s/  JOHN B. PETTWAY      
John B. Pettway


Exhibit A

SYM
   PRICE
   QTY
   PRICE
    
OSTK   19.4500   2992   19.4500   5,213,624
OSTK   19.4800   300   19.4800   5,213,924
OSTK   19.4900   3400   19.4900   5,217,324
OSTK   19.5000   250   19.5000   5,217,574
OSTK   19.5990   150   19.5990   5,217,724
OSTK   19.6000   900   19.6000   5,218,624
OSTK   19.6390   100   19.6390   5,218,724
OSTK   19.6400   1450   19.6400   5,220,174
OSTK   19.6500   2008   19.6500   5,222,182
OSTK   19.7000   100   19.7000   5,222,282
OSTK   19.7400   150   19.7400   5,222,432
OSTK   19.7500   2450   19.7500   5,224,882
OSTK   19.7800   550   19.7800   5,225,432
OSTK   19.7900   150   19.7900   5,225,582
OSTK   19.8500   50   19.8500   5,225,632
OSTK   19.8800   100   19.8800   5,225,732
OSTK   19.9000   1325   19.9000   5,227,057
OSTK   19.9400   2522   19.9400   5,229,579
OSTK   19.9700   1975   19.9700   5,231,554
OSTK   19.9790   150   19.9790   5,231,704
OSTK   19.9800   300   19.9800   5,232,004
OSTK   19.9890   100   19.9890   5,232,104
OSTK   19.9900   2700   19.9900   5,234,804
OSTK   20.0000   8850   20.0000   5,243,654
OSTK   20.2100   500   20.2100   5,244,154
OSTK   20.2480   300   20.2480   5,244,454
OSTK   20.2500   10750   20.2500   5,255,204
OSTK   20.3000   1500   20.3000   5,256,704
OSTK   20.3100   122   20.3100   5,256,826
OSTK   20.3200   1000   20.3200   5,257,826
OSTK   20.3300   10878   20.3300   5,268,704
OSTK   20.3500   4410   20.3500   5,273,114
OSTK   20.3700   200   20.3700   5,273,314
OSTK   20.3800   700   20.3800   5,274,014
OSTK   20.4400   100   20.4400   5,274,114
OSTK   20.4500   263   20.4500   5,274,377
OSTK   20.4600   100   20.4600   5,274,477
OSTK   20.4700   500   20.4700   5,274,977
OSTK   20.4800   2800   20.4800   5,277,777
OSTK   20.5000   11620   20.5000   5,289,397
OSTK   20.6290   500   20.6290   5,289,897
OSTK   20.6300   600   20.6300   5,290,497
OSTK   20.6400   3800   20.6400   5,294,297
OSTK   20.6500   34918   20.6500   5,329,215
OSTK   20.6900   63   20.6900   5,329,278
OSTK   20.7000   6937   20.7000   5,336,215
OSTK   20.7400   8237   20.7400   5,344,452
OSTK   20.8000   7000   20.8000   5,351,452
OSTK   20.8300   100   20.8300   5,351,552
OSTK   20.8400   2880   20.8400   5,354,432
OSTK   20.8500   13640   20.8500   5,368,072
OSTK   20.8900   1600   20.8900   5,369,672
OSTK   20.9000   7000   20.9000   5,376,672
OSTK   20.9100   100   20.9100   5,376,772
OSTK   20.9190   300   20.9190   5,377,072
OSTK   20.9200   400   20.9200   5,377,472
OSTK   20.9300   800   20.9300   5,378,272
OSTK   20.9400   6900   20.9400   5,385,172
OSTK   20.9500   7260   20.9500   5,392,432
OSTK   20.9600   300   20.9600   5,392,732
OSTK   20.9690   260   20.9690   5,392,992
OSTK   20.9700   4020   20.9700   5,397,012
OSTK   20.9800   1100   20.9800   5,398,112
OSTK   20.9900   7400   20.9900   5,405,512
OSTK   21.0000   61450   21.0000   5,466,962
OSTK   21.0600   2600   21.0600   5,469,562
OSTK   21.1100   1900   21.1100   5,471,462
OSTK   21.1300   5000   21.1300   5,476,462
OSTK   21.1400   100   21.1400   5,476,562
OSTK   21.1500   3040   21.1500   5,479,602
OSTK   21.1800   7100   21.1800   5,486,702
OSTK   21.1990   900   21.1990   5,487,602
OSTK   21.2000   41870   21.2000   5,529,472
OSTK   21.2060   600   21.2060   5,530,072
OSTK   21.2090   400   21.2090   5,530,472
OSTK   21.2100   7320   21.2100   5,537,792
OSTK   21.2200   600   21.2200   5,538,392
OSTK   21.2300   40   21.2300   5,538,432
OSTK   21.2400   12400   21.2400   5,550,832
OSTK   21.2500   39790   21.2500   5,590,622
OSTK   21.2700   200   21.2700   5,590,822
OSTK   21.2900   8800   21.2900   5,599,622
OSTK   21.3100   32500   21.3100   5,632,122
OSTK   21.3300   500   21.3300   5,632,622
OSTK   21.3400   600   21.3400   5,633,222
OSTK   21.3500   10150   21.3500   5,643,372
OSTK   21.3600   7000   21.3600   5,650,372
OSTK   21.3700   2300   21.3700   5,652,672
OSTK   21.3800   5260   21.3800   5,657,932
OSTK   21.3990   1450   21.3990   5,659,382
OSTK   21.4000   35640   21.4000   5,695,022
OSTK   21.4270   300   21.4270   5,695,322
OSTK   21.4280   200   21.4280   5,695,522
OSTK   21.4290   400   21.4290   5,695,922
OSTK   21.4300   7800   21.4300   5,703,722
OSTK   21.4390   300   21.4390   5,704,022
OSTK   21.4400   1262   21.4400   5,705,284
OSTK   21.4490   600   21.4490   5,705,884
OSTK   21.4500   32760   21.4500   5,738,644
OSTK   21.4570   100   21.4570   5,738,744
OSTK   21.4600   4200   21.4600   5,742,944
OSTK   21.4900   38567   21.4900   5,781,511
OSTK   21.5000   49121   21.5000   5,830,632
  Total $ Purchases   620000        



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AMENDMENT NO. 2 TO SCHEDULE 13D
AMENDMENT NO. 2 TO STATEMENT ON SCHEDULE 13D
SIGNATURE
Exhibit A