Fence is the term used to describe a member of the Thieves Guild who will buy stolen property. Unless the Speech perk "Fence" is taken, stolen merchandise can only be sold to a fence. Stolen property is identified by the word "Stolen" on the top right of the item description. The Thieves Guild is located in Riften, in the southeast end of Skyrim. It is located through a series of tunnels in the sewers known as the Ratways.