Perception can be deceiving.
But I'm still going to guess that most didnt.
Remember that sometimes people arent aware of the "actual" market value of their bike (see "declared value facts and myths").
I had a BRAND NEW, out of the box 0 kms 1998 honda VTR which I purchased in the summer of 2002. It was written off 3 months later by a cage.
ICBC didnt care that it was fresh out of the box or that it had 0k when I bought it 3 months prior.
They just saw 4 YEARS OLD and priced it accordingly.
So my 10000 bike was worth 8500.