This morning, gossip outlets like Rush & Molloy were reporting that bidding over the wedding pics for Saturday’s Ashlee Simpson and Pete Wentz wedding were being shopped around for “a seven-figure sum.” One source we just spoke to says the winning bid came from People magazine, with a $1.3 million fee paid to, who else, Joe Simpson, who brokered the deal himself. The photos will appear in next week’s issue.

It’s probably a good time to revisit the argument that paying these huge sums for exclusive pics is actually not a profitable business model.