> Of course thieves are discerning. They are running a profitable criminal enterprise.

I can promise you the person who stole this iPhone doesn't run a profitable criminal enterprise. But I am also not disputing that someone along the theft value chain, someone will likely be discerning. However, your claim seems to conflate a criminal enterprise and the theft value chain with an individual thief.

Also, I find the notion that it is very risky to steal something in London hard to believe, but if you have some data to back that up I would be happy to change my mind.