I wonder if the large number of stolen bikes on the market basically depresses local prices to the extent that even if you have to buy a new bike you don't lose

I wonder if the large number of stolen bikes on the market basically depresses local prices to the extent that even if you have to buy a new bike you don't lose that much vs a world with minimal bike theft. The Japanese market might be relevant, as 10-15 years ago there was seemingly little bike theft and now it's rampant in certain areas.