(CBS) How much is that necklace on Lindsay Lohan? That's the lingering question in the ongoing saga of the actress' recent legal woes.
Lohan was arraigned last week on a felony grand theft charge that she stole a "one of a kind" $2,500 necklace from an upscale jeweler in Venice, California; however, according to celebrity news site TMZ, the necklace was overpriced and may not have enough value to uphold a felony charge.
Several prominent jewelers in Southern California, who opted not to reveal their names, priced the necklace at more than $1,500 less than what retailer Kamoife & Company was selling it for, according to TMZ.
One retailer claimed the necklace, which was reportedly made up of 8.84 carats of natural, untreated yellow diamonds, was "a dime a dozen," while another said it didn't think the piece was worth more than $900, reports the site.
In order for a theft charge to be deemed a felony, the item in question must have a fair market value of more than $950, according to TMZ.
If the necklace is in fact worth $950 or less, Lohan could evade felony charges and get slapped with a misdemeanor, which carries a maximum penalty of six months in jail.
Lohan maintains that she was loaned the necklace, and was told that she could keep it if she was photographed wearing it in a major publication.