Overstock.com, Inc. News

Worldstock Offers to Ship 400-Pound Rug for $2.95

SALT LAKE CITY, July 1 PRNewswire-FirstCall — Overstock.com, Inc. (Nasdaq: OSTK) today announced that Worldstock, its socially responsible division that sells handmade items from artisans around the world, is offering a large antique rug for immediate purchase on its site.

Overstock.com is an online retailer known for discounts and its $2.95 per-order shipping policy. The tens of thousands of items it offers for sale range from electronics to clothes. Although Overstock.com also offers indoor and outdoor furniture, most items are considerably lighter than the Persian rug which weighs at least four hundred pounds.

The rug measures 26.9 feet by 37 feet and was hand-woven in the 1920s by a semi-nomadic group of people living in the village of Meshkabad, near Arak in northwestern Iran. It is unusual for tribal people to weave such a large rug. The rug's rareness and excellent condition were factors in its $149,999.99 price.

"This item is indicative of the flexibility of the Worldstock site. Almost all of the handmade items we sell are newly made. This rug is an unusual offering, both in general and for our site," said Patrick Byrne, Overstock.com's chairman and chief executive officer. "Of course you can't ignore the offer to ship the rug for $2.95. That policy keeps our customers coming back and clearly, the person who buys this rug will enjoy great value."

The rug came to Worldstock through a vendor who sells the recently fashioned wares of the nomadic tribe's current members.

"Our incentive to sell the rug on our site includes the hope that it will go to an owner who appreciates its historical and cultural value and will care for it accordingly. It would be an ideal purchase for a museum, a grand hotel, or maybe someone who has fine taste and a large home," said Worldstock Director Angela Ramirez.

To find the rug go to http://www.overstock.com/Worldstock/Persian-Antique- Mesh.kabad-Rug-269-x-37/3168624/product.html or go to Overstock.com and search "Meshkabad."

About Overstock.com

Overstock.com, Inc. is an online retailer offering brand-name merchandise at discount prices. The company offers its customers an opportunity to shop for bargains conveniently, while offering its suppliers an alternative inventory distribution channel. Overstock.com, headquartered in Salt Lake City, is a publicly traded company listed on the NASDAQ Global Market System and can be found online at http://www.overstock.com.

Overstock.com(R) is a registered trademark of Overstock.com, Inc.

SOURCE Overstock.com, Inc.

Send this news item to a friend.

Print This Page