Feel for the owner. I've had a few prized bikes stolen but zero confidence in LEO in these regards. To this day, the loss of the bikes are less of my thoughts but I'm highly irritated at the police WHOM work for us.

I would expect the shop has insurance, so they shouldn't be out monetarily.

As for hope of recovering, maybe the shop could share serial number or any pertinent description. One would perhaps eventually see this as on a popular website or the bike database stolen site. Other bike shops do use it on higher end modern bikes, less luck though on older. My guess though its 99.9% gone.

These days, larger metro and cities WILL not bother with even small theft, car damage, and a missing bike is an absolute waste to them. Suck it up and do what you gotta do, all.