the article said'defunct' nightclub. i assume that means it went out business. and yes, those cars are going for over a million and have been for awhile.
my guess it goes to japan. you know how crazy they are about everything american.
but it does sound fishy. failed italien night club owner in nyc gets car nicked. sounds like it could be an insurance scam, or maybe he owes the mob a bunch of money.
hey, don't dismiss homemade basses. there are lots of them on u tube that sound pretty damn good. the whole point is cheap and creative. thats why this thing has plumbing parts.