If anyone is curious, in the US this is illegal unless the charity is actively displaying the art as part of their charitable mission (I.e. a museum accepts it, and it’s worth displaying).

If it’s for any charity that does not display art, you’re limited to deducting the cost of the item at acquisition ($1,000) which makes this not a loophole at all.

The real problem is we need more IRS agents to investigate whether or not any of the contributions are fraudulent.