Your question shows the distinction between the rights in a copyrighted work and the rights to the physical object that embodies a copyrighted work. When you purchase an item that embodies a copyrighted work, such as your photograph or a CD or a book or a painting, you own the physical object but you haven't bought the copyright in the underlying work. You are free to sell the physical object; however, as noted, you can't make copies because the right to make copies belongs to the owner of the copyright in the underlying work.
Answered on Jun 02nd, 2012 at 1:40 PM