Another happy victim thanks to a seasoned stolen bike spotter checking their local second-hand dealer for stolen bikes. The Victoria Police now have a firm lead to follow up in the investigation of the theft of this bike stolen from an apartment garage in Melbourne on 29 December 2019.
Usually, victims of bike theft end up getting their bike back worse for wear, in this case, the second-hand dealer had made some upgrades changing the bar tape and other components. As this particular dealer seems vulnerable to receiving stolen bikes, we will encourage them to not alter the bikes they buy so they can be more easily identified by the victims and police.
Unknowingly buying stolen property is a major risk for all second-hand dealers. A risk that is only partly mitigated by regulation. BikeVAULT has assisted in the recovery and return to victims of well over 100 stolen bikes from second-hand dealers from all over Australia. It is very clear that thieves do and will continue to manipulate second-hand dealer processes as a quick way to cash in on stolen bikes.
From BikeVAULT’S experience, it appears there is a serious misconception across many parts of the second-hand dealer industry that the protections in second-hand dealer legislation in regard to purchasing stolen property relieve the dealer of the financial implications of these transactions. This is not the case. As a general legal principle, a thief cannot pass on the legitimate title to stolen goods. The victim always retains ownership of the bike and if the dealer refuses to return it, it is open to the victim to sue the dealer for the return of the bike, or for compensation if it has been on-sold and can no longer be found. In addition to these financial implications, the second-hand dealer industry has to also be very mindful of the reputational damage to the industry that occurs when these incidents come to light.
Don't settle for just a bike lock, choose a premium VAULT lock and ID KIT bundle, and not only secure your bike, but secure your bikes ID and your ownership for life.
Bike theft is driven by the lucrative black market trade, aided by lacking bike identification, insufficient recording, and the inability for the public prior to BikeVAULT to check if a second-hand bike is stolen when advertised for sale.
Register your bike identification and your ownership in the VAULT for free and help us put the black market traders out of business an end targetted bike theft!
Not just bikes – You can now register all your assets vulnerable to theft in the VAULT, including your pets that commonly go walkabout! Check out our bespoke custom registration and stolen forms designed by asset identification and recovery experts.