NC store owner loses $400K in white Christmas bet

December 30, 2010 2:37:17 PM PST
A North Carolina jewelry store owner is paying out a very pricey bet - he lost because of the East Coast storm.

Alan Perry, the owner of Perry's Emporium, promised refunds on everything bought at his store, between November 26 to December 11, if more than three inches of snow fell on Christmas Day at his store location. The city got more than six inches.

"There was another man who bought a $12,000 engagement ring for his girlfriend and she came in yesterday, matter of fact to get it resized. And, she's taking the $12,000 and putting it into her wedding, uh increasing her wedding expenses now. Which kind of blew him away that she was going to do that," said Perry.

Perry says the total payout for customers will be around $400,000 and says he paid for an insurance policy that will cover most of the refunds.

Perry says he didn't mind losing the bet. In fact, he's considering a similar promotion for Valentine's Day.


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