The occurrence in which a gentlemen sustains crippling damage to one, or both, of his testicles to such a extent he can no longer retain feeling in his body below the waist. Or anywhere for that matter; most commonly caused by sitting on ones own nutsack.
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.