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Lindsay Prosecutor: We Believe It's a $2,500 Necklace

2/15/2011 9:30 AM PST BY TMZ STAFF

The prosecutor in the Lindsay Lohan shoplifting case believes the necklace in question is worth $2,500 ... but she's open to hearing arguments from Lindsay's lawyer that the price tag is grossly inflated.

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TMZ broke the story ... several jewelers claim the market value of the necklace is anywhere between $800 and $1,000.  Under California law, if the item in question is worth $950 or less, the case must be filed as a misdemeanor, not a felony.

Deputy D.A. Danette Meyers tells TMZ, "If Shawn (Lindsay's lawyer) presents me with credible evidence of value, we will take a look at it.  But based upon what's in front of us -- what the store owner and designer said -- the necklace is worth $2,500."

Meyers adds, ultimately "It's a battle for the jury."

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