Fence is the term used to describe a member of the Thieves Guild who will buy stolen property in The Elder Scrolls IV: Oblivion. In previous iterations of the game, such as The Elder Scrolls III: Morrowind, there was no distinction between stolen and non-stolen property. With very rare exceptions, fences are the only NPC merchants who will buy stolen property. Stolen property in Oblivion is identified by a red hand over the icon in an inventory. *Is not a Thieves Guild fence and will not talk if his disposition is below 30