In 1969, the Metropolitan Museum of Art agreed to buy three photographs by Diane Arbus, for seventy-five dollars each. Wiser counsels prevailed, however, and a few months later the museum decided to take only two. Why splurge? The Museum of Modern Art was more daring; in 1964, it had acquired seven Arbus photos, including “Child with a toy hand grenade in Central Park, N.Y.C.” Not until the aftermath of Arbus’s death, however, in 1971, and the retrospective of her work at MoMA the following year, did public fascination start to seethe, swelling far beyond the bounds of her profession. The swell has never slowed, and prices have followed suit. At Christie’s, in 2007, “Child with a toy hand grenade” sold for two hundred and twenty-nine thousand dollars. Last year, another print of it, this one signed by the artist, fetched seven hundred and eighty-five thousand dollars. That’s quite a hike.
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