That's another piece of junked code I wish they'd fixed. It makes sense that you could sell something you'd stolen, earlier, but I'd expect that you'd only get 10% of the value, or less: "handler's fees," or some such, the purchaser of the hot goods might say.
And doing it over and over, stealing and selling back the same item from a particular merchant, is about as cheesy and realistic a tactic as they come. That should have been eliminated from Day One.