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Major Department Store Makes Major Pricing Error

Bloomberg News Photo by Diane Bondareff(NEW YORK) -- If something looks too good to be true, well, maybe for once it is.

In this instance, Macy's sent out a 47-page flier last month that, among other things, listed a sterling silver and 14-karat gold necklace, originally valued at $1,500, for the discounted price of $47.

Eventually, somebody at Macy's figured out that the $47 price listed was supposed to have really been $479.

Last Friday, Macy's said that it was canceling all orders for the necklace offered at $47 if it was out of stock, which was the case just about everywhere.  However, anyone who happened to pay $47 and got to take the necklace home gets to keep it, no questions asked.

Macy's wouldn't say how the mistake was made and why it took so long to catch the mistake.

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