What you need:
An Image
Picture frame (place in your picture frames folder)
Gold Pattern (Place in your patten folder)
Filters: Toadies Ommadawn
Download supplies here

1. Choose a dark color as your foreground and a gold pattern as your background (or use the one provided)
2. Open your Image in PSP
3. Open a new transparent image 500x360
4. Image/ Picture frame/ DreamsFrameB
   
   
   
   
5. Use your Magic wand to select the large rectangle on the right with these settings
   You'll have to use these Magic wand settings through the whole tutorial
   
   
   
   
6. Add a new Raster layer and go to Layers/ Arrange/ Move down
7. Selections/ modify/ expand with 2 pixels
8. Go to your image and copy and paste into selection
9. Add a new Raster layer and apply the following Cutout
   
   
   
   
10. Select none
11. Hide your picture frame layer and merge the other layers (visible)
12. Unhide Picture frame layer and activate
13. Use your magic wand to select the bottom left square
    
    
    
    
14. Selections/ Modify/ Expand with 2 pixels
15. Go back to your image and mirror
16. Copy and past as a new layer
17. Move your image so you have the part you want in your selection, resize if necessary (Don't forget to uncheck all layers if you do)
18. Selections/ Invert
19. Press delete once on your keyboard
20. Layers/ Arrange/ Move down
21. Add a new Raster layer,
    Selections/ invert and apply the same cutout as before
22. Select none and go to Layers/Merge/ Merge down
23. Activate your frame layer again
24. Use your magic wand to select the last square and repeat step 14-22
    
    
    
    
25. Activate your frame layer
26. Select the large part on the right
    
    Selections/ Modify/ Expand with 1 pixels
27. Add a new Raster layer and paste your image into selection
    (If it's not working, just copy your image again)
28. Adjust/ Blur/ Gaussian blur: Radius 30
29. Add a new Raster layer and flood fill with your dark color
30. Change the blend mode of this layer to exclusion or just use what suites best, play a bit with the different blend modes
31. Layers/ Merge/ Merge down
32. Select None
33. Activate your frame layer again
34. Use magic wand to select the left part of your frame
    
    
    
    
35. Selections/ Modify/ Expand with 1 pixels
36. Add a new layer and paste your image again into the selection
37. Repeat the Gaussian blur
38. Effects/ Plugins/ Toadies/ Ommadawn
    
    
    
    
39. Select None
40. Activate frame layer and select the black lines of your frame as below
    
    Selections/ Modify/ Smooth
    
    
    
    
41. Flood fill the selection with your gold pattern
42. Effects/ 3D effects/Inner bevel
    
    
    Apply a Dropshadow
    
    
    
    
43. Select None
44. Select the darkest outside border with your magic wand and floodfill with your dark color
    
    
    
    
45. Deselect and now select the 2 lighter outside borders
    Best is to zoom in a bit
    
46. Selections/ Modify/ Smooth with the same settings as before
47. Flood fill the selection with your gold pattern and repeat the Inner bevel
    From step 42
48. Merge all layers
49. Apply your water mark and
save as jp

That is!!!
I hope you enjoyed this tutorial

Here's another example of this lesson