Phone worth $200- $400 can be resold easy on the street. No one tracks the stolen ones in this country like they do in Europe so anyone can have it turned back on in their name. Pretty much the police don't think they are worth the trouble of following up on.
I would guess to that every once in while they get lucky and end up getting credit card numbers when they access your email account on them .
err that’s $200 to over $500 for a phone