Where do stolen bikes go? I'm looking for, ideally, an academic study or authoritative source on what happens to stolen bikes, rather than just speculation. Is there anything I can do at this point to help track mine down?

My very dear two wheeled friend disappeared into the night yesterday, after its lock was cut through. Left in a bad spot for 'a few minutes' that turned into several hours.

I've filed a police report and the rest of it, but something that I keep wondering is where these bikes end up? Surely it would be too obvious to resell them on Kijiji or Craig's List, since people like me are now checking every couple of hours for their bike. Should I even bother looking around town, or do they get shipped off to a different city? Are they just scrapped for parts?
Bicycle Theft, Guide No. 52 (2008) gives details around bicycle theft in different variants, stages and from different perspectives, contains reference for theft data.
From the report:

Offenders
Not all bicycles are stolen for financial gain. Some offenders may take a bicycle simply to get from one place to another, and then abandon it. Research suggests that bicycle thieves can be categorized in the following way in terms of their motivation:
Joyriders-those who steal any type of bicycle for transportation and/or enjoyment. These offenders generally abandon the stolen bicycle after use. Younger offenders (16 and under) typically fit this group.
Acquisitive-those who exploit easy opportunities to steal any type of bicycle and trade it for cash or goods (such as drugs).
Volume-those who steal specific types of bicycles and/or numerous bicycles to order.

50 Denv. L.J. 177 (1973-1974) Marketing Theory and the Fencing of Stolen Goods; Roselius, Ted; Benton, Douglas (paywall!) -- goes down on marketing of stolen goods, and bikes are considered one of main prizes in this market (see previous link why)