UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
   ELLIOTT, GROVER S
   BASSETT FURNITURE INDUSTRIES, INC
   245 MAIN STREET
   P O BOX 626
   BASSETT, VA  24055
   USA
2. Issuer Name and Ticker or Trading Symbol
   BASSETT FURNITURE INDUSTRIES, INC.
   BSET
3. IRS or Social Security Number of Reporting Person (Voluntary)
   ###-##-####
4. Statement for Month/Year
   NOVEMBER 13, 2002
5. If Amendment, Date of Original (Month/Year)

6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
   ( ) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
   (specify below)
   VICE PRESIDENT, FINANCE &  INVESTOR RELATIONS
7. Individual or Joint/Group Filing (Check Applicable Line)
   (X) Form filed by One Reporting Person
   ( ) Form filed by More than One Reporting Person
___________________________________________________________________________________________________________________________________ Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ___________________________________________________________________________________________________________________________________| 1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect | | Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership | | | | | Beneficially |(D)or | | | | | | | A/| | Owned at |Indir | | | Date |Code|V| Amount | D | Price | End of Month |ect(I)| | ___________________________________________________________________________________________________________________________________| COMMON STOCK |11-08-|F | |1,699 |D | |3,468.494* |D | | |02 | | | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| *INCLUDES 392.494 SHARES AQ| | | | | | | | | | UIRED UNDER THE 2000 EMPLOY| | | | | | | | | | EE | | | | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| STOCK PURCHASE PLAN IN T| | | | | | | | | | RANSACTIONS EXEMPT UNDER | | | | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| RULE 16b-3(c). | | | | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| ___________________________________________________________________________________________________________________________________| ___________________________________________________________________________________________________________________________________ Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned | ___________________________________________________________________________________________________________________________________| 1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of| Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect | |or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial | |cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership | |Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | | |Deriva- | | | |Date |Expir| | |ficially |Ind| | |tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| | |Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | | |rity |Date |Code|V| Amount | |ble | | | |Month |(I)| | ___________________________________________________________________________________________________________________________________| *OPTION (RIGHT TO BUY)|22.625 | | | | | |11-07|5-06-|COMMON |1500 | |1500 |D | | | | | | | | |-97 |2007 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| **OPTION (RIGHT TO BUY|32.25 | | | | | |11-07|3-23-|COMMON |23,225 | |23,225 |D | | ) | | | | | | |-00 |08 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| **OPTION (RIGHT TO BUY|14.875 | | | | | |1-18-|1-17-|COMMON |5,162 | |15,484 |D | | ) | | | | | | |01 |10 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| | | | | | | |1-18-|1-17-|COMMON |5,161 | | | | | | | | | | | |02 |10 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| | | | | | | |1-18-|1-17-|COMMON |5,161 | | | | | | | | | | | |03 |10 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| | | | | | | | | | | | | | | | ___________________________________________________________________________________________________________________________________|
Explanation of Responses: *GRANTED UNDER THE 1993 LONG TERM INCENTIVE PLAN, WHICH IS A RULE 16b-3 PLAN **GRANTED UNDER THE 1997 EMPLOYEE STOCK PLAN WHICH IS A RULE 16b-3 PLAN. SIGNATURE OF REPORTING PERSON GROVER ELLIOTT DATE NOVEMBER 13, 2002