Not unusual to see or hear about stolen bikes on eBay or Craig's List. Confrontation and trying to get your bike back can be a dangerous move unless you have the police as your backup. Bike thief has always been a problem and a low priority for law enforcement. Money from parts is only worth it if it's an high end item or a set of wheels. Selling a complete bike, esp a high $$$$ bike, on eBay can often get more money.

How many people take the time and money to register their bikes with their local police depts, DMV, university, or local govt agency? I recall my GF got stopped in SM and was accused of stealing/riding a stolen bike. Even though we had just registered the bike, it wasn't in the system yet and it was a good thing I made a photocopy of the Invoice with the frame/serial number and made her carry it with her. A scary situation for her but it worked out in the end and she got pissed at the accusers...lol. Not too many people own that brand of cruiser bike, at least I haven't seen too many of them any around. Ended up engraving her CDL number by the serial number as an extra precaution.