I would say mostly false. I sold my old bike on Craigslist because I had upgraded and really didn't have a use for two road bikes at the time. It was maintained regularly by a local bike shop and I was up front about the condition, miles, etc... I bought my mountain bike off of Craigslist and it has had no issues to date. There are a lot of stolen bikes on CL but you just have to be a savvy buyer. Ask questions and research what you are buying.