Last night, Christies auctioned off a an untitled cowboy photograph by Richard Prince. It set a record at $12,238,000. Thing is this photograph is just a photo of an old Marlboro print advertisement [1] (aka rephotograph). And there's folk out there who say people don't like advertisements. ;)
(More goodness from the source at Metafilter [2].)
Links:
[1] http://199.249.170.170/pdn/newswire/article_display.jsp?vnu_content_id=1001476300
[2] http://www.metafilter.com/mefi/46542
[3] http://technorati.com/tag/marketing mishaps