Jim, It's a complete shame that we all need to be concerned about theft, but I can't say I'm surprised. I've always advised my customers to buy locks (I saw your system was "locked"). This one of the few cases where I heard of someone taking the system w/o a bike, boat, skis etc. Blows. As Sal mentioned, check your insurance policy. It couldn't hurt to give a shout to the local PlayItAgain and watch Craigslist. You've already replaced the rack but it'd be damn satisfying to catch the thief. I'd like to say that the racks I sell offer better security but I think we all know that nothing is truly theft proof. It just depends on how committed the thief is.