At a glance, a severely damaged 1992 Chevy Camaro looks like it belongs at a junkyard.

That's because it was found in 10 feet of water at in a New Port Richey Lake. The Camaro was reported stolen in 1999 and had most likely been in the lake for some 15 years.

Sheriff's deputies found it by coincidence during an operation looking for stolen cars.

The sheriff’s office one reason the car went unnoticed for so many years is that, 15 years ago, there weren’t as many commercial and residential buildings in the area.

The car was stolen from a dealership that has since closed. Now, it's just sitting in a towing company's lot.

“More than likely I would imagine that this one is going to go to the crusher. But we will sell it to somebody if they want it,” said Smith Collision Services Employee, Michael Smith.

But this company's junk is Brian Farmeri's treasure.

"It’s almost like a preserved car," said Farmerie, a manager for C&C Rod Shop. "It’s been hidden underneath the water for 15 years. It's brand new, and it's hidden. Nobody has ever seen it.”

That story sells big at car auctions, especially if the car is a limited edition like this one.

It's why Farmerie went over to the tow shop and expressed interest in taking the Camaro back to his restoration shop.

"We will make it a beauty again," he said. "To restore it, you are probably looking at 30 to 40 grand and a lot of man hours - probably 1,500 man hours."