I did a bit of googling and ran across this:
Giving Art, Collections and other Personal Property
Gifts of artwork, collections and other personal property (Gifts-in-kind) are welcomed by B-W, as long as they enhance the quality of student education. Typically before a gift of this kind is accepted, the department where it will be located is advised of the proposed gift and asked to evaluate it's appropriateness for the program it will serve. Once accepted, the donor of the property hould obtain an independent evaluation of the dollar value and report that to B-W. IRS Form 8283, Noncash Charitable Contributions, needs to accompany your Federal income tax return for the year the gift is made. Please be advised that your charitable deduction is limited to your original basis or cost.
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So if a charitble deduction by a collector is limited to the original basis or cost then my contention that collectors can get a deduction based on the appreciation is wrong.... If I remember correctly it used to be that you could get an inflated value ....but no longer....the artists still gets a worse deal however ...
If a builder gave a house would he/she only deduct the cost of materials?
More:
Other Facts You Should Know about a Gift of Art
Art may pose special problems for the artist in his or her estate. Gifts of art by the artist to the Marriott School are deductible for income tax purposes only to the extent of the cost of materials used to produce the art. If art is gifted by the artist to heirs during life or from the artist's estate at death, it is valued for gift and estate tax purposes at fair market value. This can result in the art being sold to pay taxes, often at less than fair market value, leaving heirs with little or no proceeds. LDS Foundation professionals would be happy to discuss your particular circumstance with you and your professional advisors.