Just a slight add on to what ejust said...he's mostly accurate, but some of this is more gray area than most understand. When you buy at a retail establishment, you are getting what's known as automatic good title...meaning that even if it's stolen, it's your's. Period. Without this assumption, no business could be conducted. At that point, the burden is on the retail establishment. Whether or not good title applies to flea marketsis a grey area. A pawn shop almost certainly gives good title...if it's stolen, the shop is responsible, not you. You might NOT be SOL, although the honorable thing to do, IMO, is to give it back for what you paid and try to identify the seller to police.

I, like most here, have been offered clearly stolen bikes many times...and have always passed. I won't do it morally, I don't want to help promote theft, and it's risky if you get caught with it. My dad called me while he was at a flea market, knowing about my hobby. He described a Bianchi Pista to me being sold for $100...I told him to buy. Later, he told me the seller looked a little shady but had several bikes. I called local police asking if this bike ended up on a report...I posted an ad to craigslist and I called my local bike shops.

Nothing. I didn't know what to do. I spoke with co-workers and family who are attorneys and heard it could be decided either way. I eventually decided to re-sell it after it was clear I had done my due dilligence.