When you think of hot holiday shopping sites, American Express (NYSE:AXP) isn't likely to make your short list. Sure, AmEx will be seeing plenty of action as folks charge their way through holiday buying sprees. But American Express as an e-tailer? Believe it.

Traffic was brisk at the company's MyLifeMyCard.com website on Tuesday. That's because the financial services giant was selling 37-inch plasma television sets for a mere $750, well below its $2,499 retail value. The catch was that the company was selling just 50 of them, starting at three different times of the day.

The offer was good for American Express cardholders only, but clearly there are more than 50 netizens out there toting AmEx plastic. I doubtlessly wasn't the only one to receive a "due to high demand, the site is currently at maximum capacity" notice before ultimately being told that the item was no longer available.

Every day brings a new marked-down item to the site's sales floor. It's $300 espresso machines on Wednesday. Next Monday should be a big one -- the company is selling Range Rovers for just $5,000. The catch? It's only got three of them to sell. May the clicks be with you.

It's a bold experiment for American Express. Every day through Dec. 16, the company is featuring items at unbelievable prices, though the vast majority of site visitors will walk away empty-handed. Remember when Priceline.com (NASDAQ:PCLN) was rejecting five out of every six travel bids? The ratio will be far worse here. AmEx is marketing the site appropriately -- as a wish-list site where only some dreams will come true -- but if too many visitors don't get the "shot in the dark" gameplay, they may walk away disappointed. Thankfully, the site has a neat endgame here; it's also promoting great online discounts and deals for cardholders at established online retailers.

But will some consumers feel as if they fell for a bait-and-switch? A successful purchase via online retailing is usually a given. Whether it's the fancy fare at Red Envelope (NASDAQ:REDE) or the closeout deals at Overstock.com (NASDAQ:OSTK), shoppers go in with the expectation of sealing the deal. AmEx's site gives them no such guarantee.

That doesn't mean I don't like what the company is doing here. American Express is breaking the mold, and it may not even realize it just yet. Just as patrons hit a Tuesday Morning (NASDAQ:TUES) opening without being sure of what they'll find, American Express is offering an online experience that captures the whimsy and sense of discovery. Sure, other online storefronts have tried similar gimmickry. Circuit City (NYSE:CC) is holding five-hour sales, with some pretty steep unannounced discounts, at its dot-com shop. However, check out the clever design and festive spirit that is percolating at MyLifeMyCard.com. You can bet that more than a few e-tailers will find a way to tap into that inspired originality.

Overstock.com was one of the first recommendations of the Motley Fool Rule Breakers newsletter service. Priceline.com is a Motley Fool Stock Advisor pick. Red Envelope is a Motley Fool Hidden Gems pick.

Longtime Fool contributor Rick Munarriz wasn't sure whether he wanted a plasma TV in the first place. He'll hold out for the LCD blowout sale. He does not own shares in any of the companies mentioned in this story. The Fool has a disclosure policy. He is also part of the Rule Breakers newsletter research team, seeking out tomorrow's ultimate growth stocks a day early.