Can i sue a thief for the full price of my phone? please help?

so this guy stole mine's and my friend's iphone at school, we identified him, and the cops arrested him. but unfortunately, they could not retrieve my phone, but they did find money, on him where they believe is the money he received from selling the 2 phones. but it was only $180 and we split the money, can we sue him for the full prices of our iphones? or do we have to just settle?