Originally Posted by splytz1

bike thieves (at least in NYC):

1) do not steal bikes in midtown during business hours, when most messengers work, there are people and cops everywhere. No (good) opportunity.
2) do not know a $300 front wheel when they see one, let alone what a Phil is, or even what a hub is. No knowledge.
3) believe (and are probably correct) that a 40 lb. k-mart magna in good condition will have a higher resale value than a scratched-up fixed-gear bicycle with a skinny taped-up saddle, traditional geometry, and no suspension - a bike that is very difficult for most "normal" people to ride, 700 dollar wheelset or no. No market. Especially for just a front wheel - who wants that (besides readers of this forum, who I assume would never buy bikes or parts from shady sources).

When I had my bike stolen a year ago, the cops told me that thieves in New York ride around residential neighborhoods in cargo vans in the middle of the night when no one's around, they have bolt cutters and just go from wrought iron fence to wrought iron fence fence snapping locks and throwing whole bikes in the backs of their vans. That's what happened to me - I got sloppy and it got stolen in the middle of the night.

Of course, that cop could have been lying.