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Entrepreneur buys rare sneaker collection at auction

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Southeby's first-ever sneaker auction already is a success, even though it's not scheduled to end until July 23.

Entrepreneur Miles Nadal, who founded MDC Partners and Peerage Capital Inc., bought 99 of the 100 rare shoes that were up for bidding.

He's paying $850,000 for the shoes, which include Nike's Air Jordan 5 "Tokyo 23."

Read more from Quartz.

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