Billy the Kid photo auctioned for $2.6M

DENVER — What is believed to be the only surviving, authenticated portrait of Billy the Kid has sold at auction in Denver for more than $2.3 million.

The tintype was sold last night to private collector William Koch at Brian Lebel's 22nd Annual Old West Show & Auction.

Auction spokeswoman Melissa McCracken said the image of the 1800s outlaw is the most expensive piece ever sold at the event

A 15 percent fee was tacked onto the bidding price, making selling price more than $2.6 million.

Organizers had expected it could fetch between $300,000-$400,000.

The tintype is believed to have been taken in 1879 or 1880 in Fort Sumner, New Mexico.

It shows Kid standing with his hand resting on a Winchester carbine on his right side and a Colt revolver holstered on his left side.