Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
Galperin Marcos
   2. Issuer Name and Ticker or Trading Symbol
MERCADOLIBRE INC [MELI] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director __X__ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
President and CEO
(Last)
(First)
(Middle)
ARIAS 3751, 7TH FLOOR		 3. Date of Earliest Transaction (Month/Day/Year)
11/10/2011
(Street)

BUENOS AIRES, C1 C1430CRG		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Call Options (obligation to sell) $ 105 11/10/2011   S     50 11/10/2011 06/16/2012 Common Stock 5,000 $ 510 100 D  
Call Options (obligation to sell) $ 105 11/10/2011   S     50 11/10/2011 06/16/2012 Common Stock 5,000 $ 530 150 D  
Call Options (obligation to sell) $ 105 11/14/2011   S     200 11/14/2011 06/16/2012 Common Stock 20,000 $ 500 350 D  
Call Options (obligation to sell) $ 105 11/14/2011   S     11 11/14/2011 06/16/2012 Common Stock 1,100 $ 530 361 D  
Call Options (obligation to sell) $ 105 11/14/2011   S     157 11/14/2011 06/16/2012 Common Stock 15,700 $ 540 518 D  
Call Options (obligation to sell) $ 105 11/14/2011   S     25 11/14/2011 06/16/2012 Common Stock 2,500 $ 570 543 D  
Call Options (obligation to sell) $ 105 11/14/2011   S     7 11/14/2011 06/16/2012 Common Stock 700 $ 580 550 D  
Call Options (obligation to sell) $ 110 11/10/2011   S     100 11/10/2011 06/16/2012 Common Stock 10,000 $ 400 150 D  
Call Options (obligation to sell) $ 110 11/14/2011   S     178 11/14/2011 06/16/2012 Common Stock 17,800 $ 400 328 D  
Call Options (obligation to sell) $ 110 11/14/2011   S     10 11/14/2011 06/16/2012 Common Stock 1,000 $ 410 338 D  
Call Options (obligation to sell) $ 110 11/14/2011   S     112 11/14/2011 06/16/2012 Common Stock 11,200 $ 420 450 D  
Call Options (obligation to sell) $ 115 11/10/2011   S     100 11/10/2011 06/16/2012 Common Stock 10,000 $ 300 200 D  
Call Options (obligation to sell) $ 115 11/14/2011   S     178 11/14/2011 06/16/2012 Common Stock 17,800 $ 290 378 D  
Call Options (obligation to sell) $ 115 11/14/2011   S     10 11/14/2011 06/16/2012 Common Stock 1,000 $ 300 388 D  
Call Options (obligation to sell) $ 115 11/14/2011   S     112 11/14/2011 06/16/2012 Common Stock 11,200 $ 310 500 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Galperin Marcos
ARIAS 3751, 7TH FLOOR
BUENOS AIRES, C1 C1430CRG		   X   X   President and CEO  

Signatures

 Jacobo Cohen Imach (Attorney-in-fact)   11/14/2011
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

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