Tell Bristol the fame lottery is on hold and it’s time to stop dream-life shopping: People Magazine says they’re not paying $300,000 for pictures of Gov GILF’s grandson Tripp.

Two days after Tripp Easton Mitchell Johnson’s birth MSNBC reported:

According to one source, bidding for the baby photos began at $100,000. People won out in the end, but In Touch was the only other weekly to make serious bids, according to several sources involved in the process.

"The bidding started well before the baby was born, but once Levi’s mom was arrested — well, then you had a story,” says one editor.

But People managing editor Larry Hackett told the Anchorage Daily News that:

the magazine has had "conversations" about photos with a Palin representative but no deal has been made and no money has been given to the Palins.

"Would I like the pictures? I would love the pictures but I don’t have them," he said.

People was the only media source to have the time and place of Tripp’s birth, provided by Colleen Jones the sister of Bristol’s grandmother Sally Heath.

Without Granny Sarah in a posed family portrait, perhaps with a stuffed moose on the wall, photos of Bristol and bambino won’t be worth $300K, said Paul Harris with Pacific Coast News, an entertainment photo agency based in Los Angeles. And unless Palin runs for president in 2012, paparazzi pics aren’t going to be worth much either, he added.

Don’t expect Alaska’s Frost Lady to help out Bristol with a posed shot. So far the only comment from the Tripp’s maternal grandma has been via a spokesman for who said:

This office will not be issuing any statements on [Bristol's baby]. We’re here to talk about state government and that matter falls outside of that.

 Ouch.