How many bicycles are stolen each year?

In 2004, the Federal Bureau of Investigation reported an estimated 6,947,685 "larceny/thefts" of which bicycle thefts accounted for 3.6 percent, or more than 250,000. The average value of a stolen bike was estimated at $240, which represents a total estimated loss due to bicycle thefts of more than $60 million. However, the National Bike Registry estimates that 1.5 million bicycles are stolen each year; the vast majority going unreported.