My $2,500 Canon RF 50mm 1.2 was stolen last year. Insurance paid me $2,500. Today, I found it on eBay listing matching my serial number. I called the police; they said, “It’s in another state, we can’t do anything.” I called my insurer. They said, “We paid you. It’s our lens now.”
Key Takeaways
- Subrogation / Salvage Rights: Once the insurer pays a Total Loss claim, they own the legal title to the stolen item. If it is found, it belongs to them.
- Buying it Back: You cannot just buy it on eBay and keep it (that would be owning it twice). You should notify the insurer. They might recover it (using their fraud team) and offer to sell it back to you.
- The eBay “Stolen Goods” Policy: eBay forbids selling stolen goods. If you prove it (Police Report + Serial), eBay will shut down the listing. But getting the lens back is a legal mess.
- Do You Want it Back? If insurance paid you $2,500 and you bought a new one, do you really want the old one back? Usually, you let the insurer handle it.
The “Why” (The Trap)
The trap is “Double Recovery.”
If you buy the lens back on eBay for $1,500, you now have the lens + $1,000 profit (from the claim).
Technically, the lens is stolen property. The pawn shop/eBay seller has no legal title.
If you alert the insurer, they have a “Special Investigations Unit” (SIU) that handles this. They can seize the lens. They might let you swap the money back for the lens, but the process is slow.
The Investigation (My Analysis of Recovery)
I simulated a recovery scenario.
The “Vigilante” Route
- Action: Buy it on eBay.
- Risk: You just bought your own stolen property. You are out the cash. Insurance won’t reimburse the eBay purchase because they already paid you the claim.
The “Official” Route
- Action: Call the adjuster. “I found my stolen lens on eBay. Here is the link.”
- Result: The insurer contacts eBay/Police. They recover the lens. They sell it at a salvage auction. You can bid on it, or they might offer it to you for the salvage price.
Identify Verification
- Crucial: You must have the serial number in the police report. Without that match, eBay will do nothing.
[IMAGE: Screenshot of an eBay listing with the serial number clearly visible, matching a police report document]
Comparison Table
| Action | Cost to You | Result |
| Buy on eBay | Listing Price | You have the lens (but insurance legally owns it). |
| Report to Insurer | $0 | Insurer recovers it (maybe). You keep the original payout. |
| Report to Police | $0 | Item seized as evidence. Stuck in locker for years. |
Step-by-Step Action Plan
- Verify Serial: Zoom in on the eBay photo. Ensure it’s 100% a match.
- Notify eBay Trust & Safety: Report the listing as “Stolen Property.” Attach the police report.
- Notify Insurer: Send the link to your adjuster. “I found the asset you paid for. Do you want to pursue recovery?”
- Walk Away: Unless the lens has sentimental value, let it go. You already got paid. Buying it back opens a legal can of worms.
FAQ
Can I keep the lens if I refund the insurance company?
Yes, usually. This is “unwinding the claim.”
What if I didn’t file a claim?
Then it’s still yours! You can use the police report to force the pawn shop to return it (laws vary by state, but usually stolen property must be returned).
Does the pawn shop get reimbursed?
No. They take the loss for buying stolen goods.