An estimated 1 million bicycles are stolen in the U.S. each year. This amounts to a loss of $250 million each year. On the street, the value of a stolen bicycle is approximately 5% to 10% of the bicycles original retail value. A large percentage of bicycle theft takes place in cities where there are colleges and universities.
Top 10 Worst Cities for Bike Theft
Kryptonite, the leading bike lock manufacturer, uses its anti-lock guarantee registration program and claims paid to identify the worst cities in the U.S. for bicycle theft. They have composed the following list:
New York, NY
San Francisco, CA
Primary Reasons Why Bicycles Are Stolen
So the thief can sell the bicycle or its parts as a source of money