English law.

1. Nemo dat quod non habet. Te property in the stolen item remains in the owner. He is therefore entitled to it back from any subsequent possessor. He may of course have to sue to get it.

2. For the same reason, since the subsequent possessor derives no title, there was a total failure of consideration in the contract by which he acquired it, and he is entitled the return of any sum paid. If he can find the seller to him. He may of course have to sue to get it.

3. When an insurer pays out a loss, he is subrogated to the rights of the original owner so the lost item then belongs to the insurer. It no longer belongs to the insured. It is up to the insurer if he wants to sell the item back to the insured and for how much.

I got a really good deal out of point 3 when I was flooded. I had a "new for old" policy. I had bought a 12-channel Yamaha powered mixing desk for £100. It got wet in the flood. Loss adjusters said it was beyond economic repair. Insurers paid me out for the nearest new Yamaha poewred mixing desk of equivalent specification (12 mic channels) - £1,000. I bought the old one back off insurers as scrap - £50.   Guess what - it worked perfectly and I could find and have for 4 years continued to find NO sign of flood damage at all!!!