According to Gizmodo founder's response to AP, they paid $5,000 for it.
http://news.yahoo.com/s/ap/20100419/ap_on_hi_te/us_tec_apple_iphone
This is trafficking in stolen goods. They might have a big lawsuit and a criminal case to defend against. Well, at least I hope they do.
If it is lost, and picked up in a bar, many have argued salvage / abandonment / finders-keepers rights to avoid any criminal charges if someone tries to make a case of it.