Without going into much detail (and only based on what we were told), my wife's uncles 1 year old Maftercraft ski boat was stolen from his front yard, it was secure and insured but it was taken.
A few weeks later, (after going down the insurance path) it was seized near Coffs (boat was on gold Coast), it had been stripped, repainted and other visuals modified.
Insurance did come through, but it did take a very long time. He had also left his wedding band in the boat from the days skiing, a sentimental loss which was not recovered.