[Pontiac]

He’s out the money he spent on buying it; that’s probably the best outcome; maybe he can recover some insurance money.

That is the best possible outcome for him.

And you are right that it would be best for him if he came forward on his own. If the thief kept records of his sale the police are going to come looking for him.

He should lawyer up.

I have never heard of an insurance company covering losses due to buying stole property.

[Attention Surplus Disorder]

“I have never heard of an insurance company covering losses due to buying stole property.”

Agree, that was just a guess, on the grounds that he may have bought the wine in good faith. More likely, the ins co tells him “tough luck”.