<< 
<< and maybe the seller was hoping that an idiot would shell out a lot of money >>
Not maybe, the seller is hoping.  I don't know the legal interpretation of the word fraud, but what I am trying to say is that the seller is trying to trick somebody into shelling out alot of money for an item that is worth only a fraction of it's actual worth.  The intent of the seller is to trick.  >>
In that case, I think I'd better take the manufacturers of Slinky and Pet Rock to task for their grievous frauds.  
While I'm at it, Matthew Lesko and whoever is selling that super-dooper powerful thing you attach to your hose that in addition to cleaning your gutters, can be used to do ANYTHING an ordinary hose can do by just sticking your thumb over the end or buying a nozzle.  You telling me a piece of metal tubing is worth $20?  I can find that in the trash.
What about those bastards at DeBeers selling ROCKS for THOUSANDS OF DOLLARS?!  What's UP with that crap?
 "trick" is not a legal term.  I'm not saying the seller isn't a sh!thead, I'm saying he's not actually a criminal.  People like to throw fraud around when things don't go their way in an on-line transaction, but there's a world of difference between "Not getting what you paid for" and "Not getting what you THOUGHT you paid for."  Now you might be able to hit the guy in civil court on the grounds that he listed the item in bad faith, but that's STILL neither fraud nor any other crime.
<< The most successful in business did not get where they got without stepping on the toes of idiots >>
There is a vast difference here.  That picture is worth a few cents, the item he is trying to pass it off as is worth much much more.  Business will bloat numbers and make claims on their product, but nothing in the magnitude of this.[/i] >>
When I first learned about "Caveat Emptor" I also learned about "Charge all the traffice will bear."  It's in your best interests to sell your product for many times more than it is actually worth.  If you can convince some stooge to buy a rock with a face, or a spring, or a piece of tubing, or a cheap printout of a picture of a popular item for FAR more than it cost to produce or is even worth, then you should do it.  
PT Barnum was famous for putting a banner over the exit turnstyles at his circus that said "This way to the Egress!"  And people would leave the circus grounds thinking the Egress was another attraction, not knowing that Egress was another word for Exit.  Barnum thought nothing of charging them again to re-enter under his no re-entry rules.  Did he do anything illegal?  No!  He clearly labelled on the tickets no re-entry and he clearly labelled the exit as such.  It's not his fault his patrons were idiots.  He called them "suckers" for a reason.
Both buyer and seller are rubes, I admit.
However, no crime was committed.  If stupidity was a crime, we'd all be in jail.
Edit:
I'd also like to add that if they used someone ELSE'S picture, that's copyright infringement, but if I have an XBox, does it say in the documentation that I can't take a picture of it and sell it?  It's my picture.  If I sell a picture of a JUMBO JET!  Would you think you'd actually get a Jumbo Jet?  If you did, does that make a criminal?
There's a shop in Cape May NJ that sells what are CLEARLY digital photos run through a photoshop filter to appear "painted" and then printed out on special "canvas-looking" paper.  And sells these prints unframed for hundreds of dollars.  And people are buying them.  I walked in the shop and saw the cool "paintings" and looked more closely and was like WTF?!  I complained loudly while I was in the store and I complained loudly anytime I heard someone mention it.
Still not fraud.  They're selling "original artwork."  Says nothing about them being actual paintings.