The song was actually written by Rupert Holmes, who would have fame on his own nearly 10 years later with the number one hit "Escape (The Pina Colada Song)" and a follow-up Top 10 smash "Him" which was followed up by the Top 40 hit "Answering Machine." After that brief run of hits, Rupert Holmes faded away for good.
As for The Buoys, they followed up "Timothy" with the single "Liza's Last Ride" which barely cracked the Top 50. Then it was over for them as well.