I don't understand this police attitude. A £600 bike is worth as much as a £600 diamond. But cops will definitely go after diamond thieves.
I reported a £2,000 ebike stolen; it had a GPS tracker, so I could locate the thing to a specific address. Their reply: "We will not be visiting the address. Do you know how many Ferraris are stolen in Birmingham every week?"
So because I can't afford a Ferrari, the cops won't even try to recover my transport.
A cheap bike is probably more valuable to a bike owner than a Ferrari is to a Ferrari owner; the Ferrari owner can just switch to driving around in his Lotus.