Sears: 'Too Good Too Be True' iPad 2 Priced at $69

The result of an erroneous price marked on the new Apple iPad 2 sent bargain shoppers running to Sears.com to purchase the shockingly priced item. Sears' online deal of $69 - a fraction of the usual $745 price tag - for the iPad 2 seemed too good to be true - and it was.

Sears pulled the $69 offer, saying it was a mistake.The company blames the erroneous ad on a third-party seller, saying it was a typo. The retailer issued a statement Friday night.

We want you to know that, unfortunately, today one of the Marketplace third party sellers told us that they mistakenly posted incorrect pricing information on two Apple iPad models on the Marketplace portion of the website. If you purchased either of these products recently, your order has been cancelled and your account will be credited, the statement said.

Apple's retail price for the 16 GB, Wi-Fi only iPad 2 is $499, and its 32 GB, Wi-Fi iPad 2 is $599. The 16-gigabyte, Wi-Fi only iPad 2 is normally sold by the reseller that posted the ad for $744.99. The online ad was a mistake, Sears said. Potential buyers understand the mistake, but they want Sears and the reseller to honor that mistake by selling the iPad 2 for for its advertised price.

Unfortunately ... one of the Marketplace third party sellers told us that they mistakenly posted incorrect pricing on two Apple iPad models on the Marketplace portion of the website, Sears said on its Facebook page. If you purchased either of these products recently, your order has been cancelled and your account will be credited. We apologize for any inconvenience this may have caused.