Magnetic bracelet

According to the salesman this bracelet cure all sort of problems from rheumatism, gout, fatigue and other ill health. Mainly it improves blood circulation. The cost is around RM200 (USD 55). Despite being expensive he still managed to make the kill....my wife bought it!!.
Do you have any experience with this magnetic bracelet??. Does it work ??. How does it work?? Or is it one of those quack product in the same line as feet toxic remover immersion solutions..??.