You were so sure they weren't stolen that you decided it would be a good idea to sell them as quickly as possible? OK. Whatever you say.
That's right, whatever I say. Because I am not the one trying to defend an extortionist.
Let's say I had a 99.99% confidence rating that the cues were not stolen based on the fact that I had known this guy for years and played against him many times.
And a thief wouldn't steal them but some "stipid" person paid you $300 for them. OK again.
No they weren't worth stealing and the person who bought them got a good deal. I took a hit on them because I just wanted them gone and to forget about getting stiffed.
You didn't mention what you would do if you sold them for $5,000 then found out they were stolen. You would give the $5,000 to the victim, right? Because you didn't deserve the $5,000. Right?
If I got stolen merchandise for a gambling debt and I sold it and found out later that it had been stolen then I would contact the original owner and work with him to recover the cues. I would return the $5000 to the person who paid me for the cues and consider the gambling debt still open.
Having fun with the hypotheticals? How about dealing with the real situation?
You man gets possession of some cues, calls the original owner and lets him know that he is in possession of cues that he knows were stolen from that person years prior and offers to "sell" them back, which is a crime. He is offered a $500 reward for returning them but then your hero decides to attempt to extort more money from the original owner which is also a crime.
He broke the law. He broke the law in both spirit and deed. Yeah it flat sucks to get stiffed and paid in stolen merchandise but that's the way it went down. The only injustice here is to the victim not the perpetrator.
The ONLY way to NOT be on the wrong side of the law and on the side of good ethics and good karma would have been to give the cues back without trying to extort any payment.
No grey area.
Many of us who have been around have faced plenty of situations similar to this. How you handle it shows your real character. I have taken the hit several times and would do it again so I don't have to be afraid to look anyone in the eyes when I see them.