What is the measure of damages for conversion?

The measure of damages for conversion primarily focuses on the fair market value of the item at the time of the conversion. This principle reflects the idea that the injured party should be compensated for the value they lost due to the wrongful taking or interference with their property. The fair market value represents what a willing buyer would pay to a willing seller for the item in an open market, making it a practical metric for quantifying damages.

This approach ensures that the plaintiff receives a monetary equivalent for the property taken, which can help restore them economically. The fair market value assessment accounts for the item's condition and relevance at the time of the incident, ensuring a more precise measure for compensation.

Other measures, such as replacement costs or sentimental value, might not accurately measure the loss experienced by the property owner. Replacement costs may exceed the fair market value, while sentimental value is subjective and thus not typically recoverable in a legal context.