Fair is fair

This is a fascinating case: when you bid at a charity auction for a unique item, how much of the bidding price can you claim as a tax deduction? My instinct is to say that the price you paid is the fair market value. But I'm sure tax experts would disagree.

This article available online at:

http://www.theatlantic.com/business/archive/2008/04/fair-is-fair/3332/