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Last week I told you about a young man whose dedication had built a substantial art and antiques business from nothing over just five years. Now I have further evidence of the enduring appeal of auctions and the indisputable fact that this process is not a dying tradition limited to old folk.

As the old year gave way to the new, one of the more interesting revelations was that Kim Kardashian (if you’ve not heard of her, where have you been?!) is ‘obsessed’ with auctions and has already put a significant sum where her mouth is by snapping up rock ’n’ roll relics under the hammer.

As a stocking filler for her six-year-old son North, she bought a jacket (for $65,625) that had once belonged to his idol, Michael Jackson, while adding the Smooth Criminal star’s white fedora ($7680) to top it off. Meanwhile Kardashian added rings ($7000 and $8000) worn by The King, Elvis Presley, to the list of gifts she handed to her brother for the Festive Season.

This is all pretty impressive stuff. Of course, the problem with buying all this for a six year old is how you go one better for next Christmas!