Originally Posted by The Tank

I went with a friend to meet the seller yesterday at a public place halfway between our locations. Middle aged dude and he had his young kids with him, who stayed in the car. Before I told him that the bike was mine, I asked him where and when he got the bike. He did not lie, saying that he bought the bike at a garage sale three months ago, which is about the time my bike was stolen. Because of that, I figured that this guy was not the actual thief. Whether or not he knew that the bike was stolen when he bought it is another issue.

So I let him know that the bike was stolen from me and that I had the papers to prove it. He seemed to believe me right away. I bluffed and told him that if I called the police, they would eventually rule in my favor and he would be left with nothing. He said that he understood and started pleading his case that it was unfair to him because he would be out the money that he paid to the thief. I felt bad for the guy and I didn't want to ACTUALLY call the police so we eventually settled on a sum of $175, which is half of what I believe is market value (I know he probably bought the bike for less than market value, but honestly, it looked like he needed the money more than I did). He says that he will try to go after the guy who sold it to him but the chances of him recovering his original money are probably slim to none.

So that's that. Given the bad situation, I am content with the outcome. I paid money to buy my own bike back, but I'll just chalk it up to one of those life lessons that you get every now and then. U-locks only from now on! Document the serial number of your bikes and take pictures!

Thanks to everyone for your help.