Description: Certain kinds of property that are intended for personal use or enjoyment and that typically increase in value over time.
Examples: Jewellery, stamp and coin collections, and artwork.
It is often difficult to establish a fair market value for listed personal property since many items are unique. To determine a value for these items, it is usually best to check with an appropriate dealer or to get a formal appraisal.
If the estimated value of the property is more than $1,000, it is strongly recommended that you have the property appraised to support the value for tax receipt purposes.
Special case: If your charity receives a gift of art or cultural property that is deemed to be of national significance and is donated by someone other than its creator, you should have it certified by the Canadian Cultural Property Export Review Board.