I did it...I watched a Raleigh DL-1 sit, locked to a fence on the Queens Quay bike path in the industrial port area of Toronto. About 3 years went by as the bike melted into the ground with the passing of each winter; first the Brooks B66 went, then the tires, the rust creeped covering all chrome bits. Enough!
Bolt cutters...saved the hubs, the rod brakes parts, one rim. pulley, nuts and bolts. Better than nothing, did the right thing.
I want to do the same thing to this idiot who's let an '85 Volvo 240 turbo also melt into the ground. less than 100k on it and pristine. Doesn't drive it ever...will not entertain any offers. Tires flat, rusts blistering from under the paint and one more winter it's gone from immaculate to junkyard. Oughta be a law.