An appliance that looks nice and is cheap, but has a 50/50 chance of dying, usually 3 to 7 days after the warranty expires. Typically a small refrigerator or microwave.
Dude 1: Whoa, a bluetooth keyboard for $20? Look at all the cool features!
Dude 2: Yeah, looks like a Magic Chef. Not sure it's worth the gamble.
A Shackteau is a humble, weather-beaten, structurally questionable shelter located in a spectacular or highly coveted place—Wales, Jackson Hole, Sun Valley, Crested Butte, coastal Maine, the Alps—where the building itself may be worth almost nothing, but the dirt, view, access, and mythology make it absurdly valuable.
In use:
Shackteâu - We thought it was an abandoned shed until the realtor called it a rare alpine Shackteâu with unobstructed views and listed it for $2 million.