I helped catch one of these repeat offenders when my bike was stolen. When it was recovered they told me they had a huge warehouse of bikes that nobody would claim, and mentioned 90%-ish of all bikes aren’t recovered and they were having space problems just storing all the unclaimed bikes. First thing we actually need to do is get people to register their bikes before they’re stolen, and then report them missing after.
Funny side note, the cops actually offered to let me setup the sting, make contact with the thief and pose as a buyer. I was sure they’d sternly recommend I do not get involved, so I was very surprised, but it was a busy night when I called and they had no officers immediately available. I did make online contact, but due to delays setting up the meet, the cops ended up handling it without me, and when I went to pick it up they were rightfully very proud of catching the guy and being able to return the bike to me.