-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 RZP4Hw/1E64l5v+Nzz+W3wUJBM6xaxCoAZJZGo0dcE7uztiW5aRV+KXT4oKW0uuk
 pk588R9bDE9jOIRxiDXLSg==

<SEC-DOCUMENT>0001011438-06-000170.txt : 20060222
<SEC-HEADER>0001011438-06-000170.hdr.sgml : 20060222
<ACCEPTANCE-DATETIME>20060222184633
ACCESSION NUMBER:		0001011438-06-000170
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20060217
FILED AS OF DATE:		20060222
DATE AS OF CHANGE:		20060222

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BLUEFLY INC
		CENTRAL INDEX KEY:			0001030896
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-CATALOG & MAIL-ORDER HOUSES [5961]
		IRS NUMBER:				133612110
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		42 WEST 39TH ST
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10018
		BUSINESS PHONE:		2129448000

	MAIL ADDRESS:	
		STREET 1:		42 WEST 39TH ST
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10018

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PIVOT RULES INC
		DATE OF NAME CHANGE:	19970305

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			SOROS GEORGE
		CENTRAL INDEX KEY:			0000900203
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14498
		FILM NUMBER:		06637317

	BUSINESS ADDRESS:	
		STREET 1:		888 SEVENTH AVENUE
		STREET 2:		33RD FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10106
		BUSINESS PHONE:		212-262--6

	MAIL ADDRESS:	
		STREET 1:		888 SEVENTH AVE
		STREET 2:		33RD FLR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10106
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edg06-0064_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2006-02-17</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001030896</issuerCik>
        <issuerName>BLUEFLY INC</issuerName>
        <issuerTradingSymbol>BFLY</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000900203</rptOwnerCik>
            <rptOwnerName>SOROS GEORGE</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>888 SEVENTH AVE</rptOwnerStreet1>
            <rptOwnerStreet2>33RD FLR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10106</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Option to Purchase Common Stock (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>1.14</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2006-02-17</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>20000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2007-02-17</value>
            </exerciseDate>
            <expirationDate>
                <value>2016-02-17</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>20000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>20000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnote</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Represents director options to purchase 10,000 shares of common stock issued to Neal Moszkowski and director options to
 purchase 10,000 shares of common stock issued to David Wassong. Mr. Moszkowski serves as an advisor to QIP and Mr. Wassong
 is an employee of SFM (as defined below).</footnote>
        <footnote id="F2">These options are held for the benefit of Quantum Industrial Partners LDC, an exempted limited duration company formed under
 the laws of the Cayman Islands (&quot;QIP&quot;). QIH Management Investor, L.P., an investment advisory firm organized as a Delaware
 limited partnership (&quot;QIHMI&quot;), is a minority shareholder of, and is vested with investment discretion with respect to
 portfolio assets held for the account of, QIP. The sole general partner of QIHMI is QIH Management LLC, a Delaware limited
 liability company (&quot;QIH Management&quot;). Soros Fund Management LLC, a Delaware limited liability company (&quot;SFM&quot;), is the sole
 managing member of QIH Management. The Reporting Person is the Chairman of SFM and, in such capacity, may be deemed to have
 voting and dispositive power over securities held for the account of QIP.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Jay Schoenfarber as Attorney-in-fact</signatureName>
        <signatureDate>2006-02-22</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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