Maréchal c. La Reine, 2004 DTC 3227, 2004 TCC 464 -- summary under Other

A sculpture by a well-known Quebec sculptor was purchased in December 1999 by the taxpayer for $1,300 plus taxes and commission and was donated by him to a Canadian museum. The valuation by the Canadian Cultural Property Export Review Board of the sculpture at $5,000 (rather than $8,000, as contended by the taxpayer) was confirmed. The reports that were tendered on behalf of the taxpayer did not "contain within themselves the type of evidence that would justify the conclusion that this work of art has appreciated in value by 500 percent" (p. 3233) including the absence of any recent sales of similar ceramic sculptures by that sculpture.