When thieves stole his ­commuter bike on a busy street in broad daylight, Patrick Symmes decided to do something about it: he wrote this outstanding piece for Outside Magazine.

With the rise of the bicycle age has come a rise in bicycle robbery: FBI statistics claim that 204,000 bicycles were stolen nationwide in 2010, but those are only the documented thefts. Transportation Alternatives, a bicycle advocacy group in New York City, estimates the unreported thefts at four or five times that—more than a million bikes a year. New York alone probably sees more than 100,000 bikes stolen annually. Whether in big biking cities like San Francisco and Portland, Oregon, or in sport-loving suburbs and small towns, theft is “one of the biggest reasons people don’t ride bikes,” Noah Budnick, deputy director of Transportation Alternatives, told me. Although bike commuting has increased by 100 percent in New York City during the past seven years, the lack of secure bike parking was ranked alongside bad drivers and traffic as a primary deterrent to riding more. It’s all about the (stolen) bike; even Lance Armstrong had his custom time-trial Trek nicked from the team van in 2009 after a race in California. Not every bike is that precious, but according to figures from the FBI and the National Bike Registry, the value of stolen bikes is as much as $350 million a year. 

I suppose the “business” of bike theft has its merits because:

Bikes are portable and easily converted to cash, and they usually vanish without a trace—in some places, only 5 percent are even reported stolen. Stealing one is routinely treated as a misdemeanor, even though, in the age of electronic derailleurs and $5,000 coffee-shop rides, many bike thefts easily surpass the fiscal definition of felony, which varies by state but is typically under the thousand-dollar mark. Yet police departments are reluctant to pull officers from robberies or murder investigations to hunt bike thieves. Even when they do, DAs rarely prosecute the thieves the police bring in.

Symmes also mentions that bikes may be sold far from where they were stolen:

In Miami in the 1980s, police found six freighters in the harbor holding hundreds of stolen bicycles, possibly headed for Haiti. Many bicycles stolen in Oregon crop up in San Francisco, evidence of an export network. In California, the Border Patrol has repeatedly caught pickup trucks entering Mexico that had been stuffed with high-end bikes stolen in Santa Cruz; drug dealers there take payment in valuable bikes, which they resell to the Mexican elite. 

A very interesting read in which we come to understand that on America’s rough streets, bicycles are a form of currency as liquid as cash and drugs.