Product review (4 stars): Item replaced: thank you Glen!
This product is worthless.
It's very expensive for a magnet. The label falls off if it gets wet.
I want no star ratings for this one, but Amazon doesn't allow it. There should be a rating of zero stars. This product is not even worth one star in my opinion.

8-20-16 Update: Glen was super helpful and immediately replaced the product.
I wasn't aware that the item could not get wet, wipe only. So extra caution as on how to clean it. Thank you Glen!