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the truck immediately before the casualty at between $4,218 and
$6,612.
Petitioners argue that, although generally useful, Blue Book
values in this case are inaccurate. Petitioner testified that
the truck was literally a showpiece. According to petitioner, it
had special paint, wheels, tires, and engine appearance items,
and extensive electronic gaming, music, lighting, and antitheft
systems. Petitioner testified that he entered the truck in
various car shows, but he presented no pictures, trophies, or
other evidence of having entered his truck into the shows.1
Petitioners did produce receipts for the purchase of the
electronic gaming, music, lighting, and antitheft systems,
showing the total cost to be more than $16,000. The electronics,
however, were installed in the truck in 1994, 7 years before the
theft. The electronics would not have the same value in 2001 as
they did when new in 1994.
Even more difficult is determining the fair market value of
the truck after the casualty. Petitioners reported on their
return that the truck was only worth $2,000 after the theft. But
the record contains no explanation of the derivation of
petitioners’ asserted valuation. Petitioners produced no
pictures of the damage to the truck. There is no insurance
1The mileage accumulated on the truck and the carrying of a
toolbox, without further explanation, is more suggestive of a
working truck than a show truck.
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