This is an option only really available to the police. Perhaps there’s a reason for law enforcement to tolerate fencing though? Maybe there are nuances downsides to society if we eliminate the black markets?
Do fences act as some kind of lubricant to the underclasses? Do we allow fences to exist because, if we didn’t, the desperate / evil thieves would resort to violently extorting cash instead of non-violently stealing bicycles?
Imagine a future, for example, where the black market for stolen goods is quashed. It is much safer to lock bicycles up outside, but ATM knife extortions go up tenfold.