Outside Magazine takes an in-depth look at the booming business of stolen bicycles.
Not every bike is that precious, but according to figures from the FBI and the National Bike Registry, the value of stolen bikes is as much as $350 million a year.
That’s a lot of bike. Stolen bicycles have become a solvent in America’s underground economy, a currency in the world of drug addicts and petty thieves. Bikes are portable and easily converted to cash, and they usually vanish without a trace—in some places, only 5 percent are even reported stolen. Stealing one is routinely treated as a misdemeanor, even though, in the age of electronic derailleurs and $5,000 coffee-shop rides, many bike thefts easily surpass the fiscal definition of felony, which varies by state but is typically under the thousand-dollar mark. Yet police departments are reluctant to pull officers from robberies or murder investigations to hunt bike thieves. Even when they do, DAs rarely prosecute the thieves the police bring in.
[…]
It’s nice to believe, as I once did, that there is some grand conspiracy at work, that catching a few bent dealers or bad-guy whole-salers will kill the business. Over the years, there have been a few tantalizing examples of a centralized trade in stolen bikes. In Miami in the 1980s, police found six freighters in the harbor holding hundreds of stolen bicycles, possibly headed for Haiti. Many bicycles stolen in Oregon crop up in San Francisco, evidence of an export network. In California, the Border Patrol has repeatedly caught pickup trucks entering Mexico that had been stuffed with high-end bikes stolen in Santa Cruz; drug dealers there take payment in valuable bikes, which they resell to the Mexican elite.
(Source: guy)
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