HaRav Chaim Weg
Answer: According to the strict halacha, the answer depends upon whether the gazlan (thief) sold the stolen items before or after the owner expressed ye'ush (despair of getting it back). If they were sold prior to ye'ush, the stolen goods still belong to the original owner. In this case, even if the gazlan transferred them to someone else or sold them, the strict halacha is that they must be returned to him without compensation.
If the owner expressed ye'ush and then the goods were sold, the buyer would acquire them due to the combination of ye'ush and shinui reshus (change of ownership), which is halachically effective in transferring ownership to the buyer. The original owner would then need to claim the value of the items back from the gazlan through Bais Din.
Although this is the strict halacha, Chazal instituted an enactment called takanas hashuk (lit. ordinance of the marketplace) in cases where the stolen items were sold before ye'ush occurred, which was designed to protect commerce. Chazal were concerned that if stolen goods would have to be returned for free to the original owner, people would be afraid to purchase freely, since every purchase entails a risk that the object is stolen and will have to be given back. Since this may ruin free commerce, the takanas hashuk states that if the purchaser was not aware at the time of purchase that the goods were stolen, he may demand that the owner compensate him for the amount he paid before returning the item.
If the buyer knows that the seller is a thief, then according to the Shulchan Aruch, the takanas hashuk does not apply, though according to the Rema, it applies in this case as well, provided the buyer was not aware that the specific goods purchased were stolen.
If the gazlan sold the goods after the owner expressed ye'ush, then even according to the guidelines of takanas hashuk, the buyer may keep the goods, and the owner must claim compensation from the gazlan in Bais Din.
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