The standard for bad art, IMHO, is Jean-Michel Basquiat, who was an
80's artist who died of AIDS before he was 30. His artwork looks like
it was done by a six year old kid, but his paintings sell for
millions, and he once created a piece of art where he took a 110
gallon aquarium tank and suspended three basketballs inside with wire
and after his death it sold for over a quarter million dollars. They
made a feature film about his life and art, but I don't get it.
http://en.wikipedia.org/wiki/Jean-Michel_Basquiat