I had my bikes stolen about 2 years ago. Despite finding them for sale locally more than once and pointing the police in the right direction they were never recovered.  Last night, whilst out on the bike, i saw one of the stolen bikes. Collared the guy riding it and he gave me a reasonable story and was happy to give me his details and let me take a photo of him and the bike.  Now, my insurance paid me out so technically it isn’t mine anymore, but morally it is!

Do I just chalk it up and let it go or do I get it back and let the insurance co know? Police won’t be interested I guess.

2 years..? move on 18 months ago.

I know, I know. I’m a man of principles though and my moral compass is hard to ignore

I would report it to the police. The bike is the insurances property.

its still stolen and the guy with it is the loser unfortunately as this bike is still yours (youll be able to sort out something with the insurer). The guy will lose out though as he bought a bike without proof of ownership

Assuming he:

was using it for it’s intended purpose I.e. not just a chav riding round the streets.

was having fun.

Bought the bike in good faith not knowing it was stolen.

And assuming your new bike is as good/better.

I’d forget about it.

I’d still report it to the police and also let your insurers know.  It’s then up to them what they do about it.

If we collectively help kill the market for cheap, stolen bikes to be sold on then we reduce the incelntive for theives to steal the bikes in the first place.

Doubt the insurance company would be interested

Recently happened to my work mate, his £2k mtb was stolen, informed the police and his insurance company and they paid out in a week, one week after the payout the bike was recovered through someone we know who knows people who knows dodgy people

My work mate being a stand up guy informs his insurance company and explains that he has spent the payout on a new bike and would they like him to return the stolen recovered bike to them

They said that they have no way of dealing with stolen recovered bikes and to just keep the bike and the payout! Jammy git

Does he not have any details of the sale/seller?

I would also report it. Though the guy with the bike may well have bought it in good faith the police now have a chain they can follow that could lead them to the original thief. The police actually doing anything about it is another thing altogether.