The funny part is he isn't selling the jet pack, just the right to name it:

"I am selling you the right to name my jet pack. The name you choose, providing it is not vulgar or racist, will be branded on my production jet packs as well."

Starting price $10,000 and buy it now price is 1/2 million dollars! To think, all those ad agencies charge their clients for coming up with good product names when their clients should be charging them.