Stolen Bike Discovered - what now?

[jacokoe]

Thanks to a fellow hubber my bike which was stolen 3 years ago has been discovered on Facebook marketplace. 

Does anyone have any experience of retrieving a bike in this manner?

Or is it not worth it? It's not a super expensive bike. Loved the damn thing, had so much fun on it, and would love to have it back. 

Edited December 11, 2025 by jacokoe

[Dusty]

Did Insurance pay out for it?

[jacokoe]

yes they did

[Mamil]

Under correction I believe the bike is now legally the property of the insurance company? 

[Duane_Bosch]

1 hour ago, jacokoe said:

yes they did

Ok then the bike belongs to the insurance company and not you. The right thing to do is to report it to the insurance company.

I made a HUGE mistake a number of years ago when I made an emotional decision to retrieve my stolen Morewood Makulu which was a much loved bike of mine. I'd already been paid by the insurance company and had already bought a new bike.

Long story short I told my broker about the retrieval. She in turn had to inform the insurance company who came and collected the bike from me and sold it at auction.

It's 3 years later so it's highly unlikely that the person selling it now is the original thief or even knows about the theft so going in guns blazing to retrieve a bike that doesn't belong to you will likely get you arrested for the very crime that you were a victim of.

Edited December 11, 2025 by Duane_Bosch

[jacokoe]

Thanks for this - weren't aware that the insurance company then owns the bike. 
My understanding was that the insurance covered the loss and not purchase it.

Thanks, will inform insurance then. 

[Shebeen]

6 minutes ago, Duane_Bosch said:

Ok then the bike belongs to the insurance company and not you. The right thing to do is to report it to the insurance company.

I made a HUGE mistake a number of years ago when I made an emotional decision to retrieve my stolen Morewood Makulu which was a much loved bike of mine. I'd already been paid by the insurance company and had already bought a new bike.

Long story short I told my broker about the retrieval. She in turn had to inform the insurance company who came and collected the bike from me and sold it at auction.

It's 3 years later so it's highly unlikely that the person selling it now is the original thief or even knows about the theft so going in guns blazing to retrieve a bike that doesn't belong to you will likely get you arrested for the very crime that you were a victim of.

unique scenario - bikes have emotional aspects as you mentioned. Did you just sommer take it, or buy it from the seller at bargain price? Did you want it back, would you have bought it at the auction?

 

 

all comes down to how much more the bike could be worth to you than anyone else.

[Super Sywurm]

Our laptop was stolen and a case was made.  2 or 3 days later we found it on FM and sent the link to the police officer in charge.  He said that he can't do anything and the case was closed.  Insurance paid.

 

I'm not sure why they can't do anything?🤷‍♀️

[Duane_Bosch]

56 minutes ago, Shebeen said:

unique scenario - bikes have emotional aspects as you mentioned. Did you just sommer take it, or buy it from the seller at bargain price? Did you want it back, would you have bought it at the auction?

 

 

all comes down to how much more the bike could be worth to you than anyone else.

I bought it back. Nils Hansen spotted it being ridden in Woodstock. He bought it from the oke riding it who wasn't the thief. I then paid Nils. It was honestly a series of stupid and expensive mistakes on my part. I should have just let the bike go and not retrieved it. I did bid on the bike at the auction (it was a blind auction) but by then the love affair was over and I was happy to not win the auction.



 

Edited December 11, 2025 by Duane_Bosch

[Mongoose!]

43 minutes ago, Duane_Bosch said:

Long story short I told my broker about the retrieval. She in turn had to inform the insurance company who came and collected the bike from me and sold it at auction.

 

The stollen bike or the new bike you bought with insurance money?

If stollen bike  -  how did you get it back in your possession again?

[Duane_Bosch]

20 minutes ago, Mongoose! said:

The stollen bike or the new bike you bought with insurance money?

If stollen bike  -  how did you get it back in your possession again?

The stolen bike. Read my previous comments. All very stupid on my part. Oh and my then wife gave me ALL of the gears.

Edited December 11, 2025 by Duane_Bosch

[Shebeen]

4 hours ago, Duane_Bosch said:

I bought it back. Nils Hansen spotted it being ridden in Woodstock. He bought it from the oke riding it who wasn't the thief. I then paid Nils. It was honestly a series of stupid and expensive mistakes on my part. I should have just let the bike go and not retrieved it. I did bid on the bike at the auction (it was a blind auction) but by then the love affair was over and I was happy to not win the auction.
 

Morewoods often made people do stupid things...no judging here!

[betaboy]

So in a nutshell most Out Insurance points- men, all potential could go to work on Trek and Cervelo bikes since most stolen bikes are owned by them. What liberating times we live in.🤭

[Robbie Stewart]

I've had a couple of claims in the past for appliances like fridges and washing machines, and each time the assessor comes to verify the claim and once it was paid then an appointed agent is dispatched to collect the appliance. Not having read the fine print but it indicates logically that the insurer effectively "buys" the damaged / stolen goods by paying the claim, and thus ownership would transfer to the insurer.

[Edge_Design]

If you get the bike back I'm sure the insurer wouldn't object to you refunding them the claim payment rather than giving them a 2nd hand bike... I think it's fairly obvious you can't expect to keep both. As far as getting it back is concerned, contact the police station where the case was opened and ask them to go with you to recover it (make sure you have clear proof it is your bike - the person with it probably bought it innocently and will deny it's yours). Then negotiate with your insurer on what they want for it as it's worth almost nothing to them.

[Bro Derek]

13 hours ago, betaboy said:

So in a nutshell most Out Insurance points- men, all potential could go to work on Trek and Cervelo bikes since most stolen bikes are owned by them. What liberating times we live in.🤭

I know this is a joke, BUT employees of insurance companies do in fact often buy things from things from the insurers.

Guys at two three bird bike insurers buy cheap bike parts from the wrecked bikes and salvageable stuff gets sold in company often.

The same for other insurance companies.

There is even a history of bank employees buying repossessed houses for dirt cheap from the bank they work for before Auction.

It is a grey area, but common practice