"I love the Old West,'' Koch told the Denver Post. "I plan on enjoying it and discreetly sharing it. I think I'll display it in a few small museums."

The photo, believed the last surviving photo of the legendary killer, depicts him resting his arm on his Winchester rifle circa 1879 in Fort Sumner, N.M. Auctioneers had estimated that it would fetch up to $400,000.

It's been called the Holy Grail," said Brian Lebel who sold the photo at the 22nd Annual Old West Show & Auction. "It's probably the most important historical photograph of one of the most infamous people in the world."

Kid, born William Henry McCarty was both "notorious outlaw and beloved folk hero" who legend says killed as many as 21 people -- but "most of those he killed deserved what they got," declared an acquaintance. Friends described him as "naturally full of fun and jollity," "lithe as a cat," a neat dresser, and "thousand times better and braver than any man hunting him."

In 1881, the outlaw was shot dead by Sheriff Pat Garrett at Fort Sumner, New Mexico, for the murder of two deputies.