Declare the correct value on the Customs form?

Totally agree with the logic carlsbad2 is stating. There is a "return for repair" box right on the customs form one fills out with the couriers, I would fill that out. But here is the issue- the album ends up snapped in half at the consignee, it is only insured for $50 (you can't insure for a higher amount then the declared value). Now the fight goes on for who is on the hook for the 1200 paid. This assumes the carrier will even entertain paying for damaged items. Last I enquired they only would cover loss, not damage, unless it was original packaging from the manufacturer, which seems odd when you are talking about an album. I would still do it (mark it at $50) with the understanding that the original shipper is on the hook. 

Wait, did you say $1200 for one album?! 

Ok, if you want to hear ridiculous regarding sending goods over the border:

I had a tegra computer board from my Tesla, built in Fremont California, that was failing because of a $20 flash chip. My choice from Tesla was replace the whole MCU infotainment unit (the whole big glass screen and all the guts contained) at a cost of $4000 Canadian at a Canadian Tesla service centre. Some figured out a way to simply replace the chip in the tegra board by hot air soldering a new one, and transferring the vehicle data from the old chip to the new one, so the car worked. After many success stories from others I decided this to do this.

I removed the MCU unit, removed the tegra board, and mailed it down to a fellow (with an Asian name) in California to do the work for $500, then I would get it mailed back and reinstall and I save more than $3000. Great!

He suggested I insure the tegra board for $2000, because that would be the cost to replace it should it get lost. Makes sense to me.

I ship it insured for $2000 via Fedex from Canada to California, and Fedex charges the receiver $300 extra as the tegra board was made in China, as this was when Trump was in office the last time and he slapped a 15% tariff on all Chinese goods.

Yes, a part from an American car, sent from Canada back to the US, was subject to a 15% duty on a "suggested" $2000 replacement value for a $100 actual part cost, to replace/repair a $20 part, because the computer board was made in China.

@grislybutter Hungary? We own a Puli, not common in Canada, we get plenty of questions, but he was not imported from Hungary 

The $2000 replacement was the current cost of a used MCU (media control unit) from a wrecked/salvage car from ebay etc. that I would have to buy to obtain the same tegra board. It was not possible to buy any of the parts inside the MCU individually.