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Brian Lebel, who runs Old West auctions, described the tintype as "probably the most important historical photograph of one of the most infamous people in the world."
"It's been called the Holy Grail," he said.
The winning bid came from a retired Wichita, Kan., industrialist with a collection already ranging from Wild West memorabilia to Picassos.
"I love the Old West," said William Koch, 71. "I plan on enjoying it and discreetly sharing it. I think I'll display it in a few small museums."
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