How is the "dollar value" of an item determined in regards to theft?

Question

1. How is the "dollar value" of an item determined in regards to theft?

Answer 1

That might very from state to state. However, a general rule of thumb is "new" items, such as merchandise in a store, go by the sale price while "used" items go by fair market value. For fair market value you would usually go based on what someone from a pawn shop says the value is.