I had a not too fancy bike that uses Pinhead locks to secure every removable component. And a sturdy U lock. There were multiple attempts to steal various components including an angry thief breaking the seat post for no good reason - the saddle is worthless. Only finally to be stolen from a secure parking garage using an electric saw in full view of the CCTV camera. Police did nothing - not that I expected them to - enough other crimes for them to deal with. Insurance paid for it. I used it to buy a nicer bike that I only ride on weekends. I’m back to taking public transit and supplanting that with bike share and walking.
One of the attempts included a bike next to me that was stolen from a really popular tourist area with a cafe seating opposite the rack.
When I see the way bikes are parked in Amsterdam it makes me jealous. I want to move there just for that freedom. I enjoy biking.
I have heard London is worse. Solutions are emerging. There’s a crowdfunded tracker that claims to solve the radio communication problem from inside a metal body. If true, it can track the bike with a tracker located inside the frame.
But I personally prefer Helsinki (where I live) after seeing Amsterdam a couple of months ago. Never had a problem with theft on an average bike properly locked; parking a bike is easy; bike lanes and paths exist but aren't usually too crowded; motorists only rarely kill cyclists; and riding in the snow makes you feel like you're greater than you are. :)
A set of stem, handlebar and brifters should come off with an allen key and a snip of the brake and gear cables, and would cost over $300 new even for a modest road bike. OTOH the scene for used parts is tiny around here, so a high risk of getting caught unless selling abroad.
So I stopped riding to the station until I got a bike locker.
I'd like to add an often overlooked problem with open parking: bikes that are left there forever to rust and rot.
The local council do this in public areas, and the owners of buildings etc for private areas.
When a tank of gas costs $50 or more, $100 for a bike is cheap even if you have to replace it every couple months.
The obvious safety strategy is to have a bike of lesser value with better locks than what's available nearby. But I also ponder what it would be like to own a really valuable bike. Do people steal handlebars or something, because that would make sense to me? Or is vandalism the bigger issue?