Verified answer

It's possible that oil starvation could be a problem. If you do it once or twice, then probably not, but sustained wheelies or frequent wheelies will eventually cause some engine damage through oil starvation.

A greater problem is that the drivetrain is not designed to provide for your wheelie entertainment and doing wheelies will eventually damage the drivetrain.

The greatest problem is that eventually you will go over on your head, ride on two wheels into someone or something and that damage can be far worse than anything you do to your yamaha.

On some engines (motorcycles included) the oil pump intake is located in the middle or front of the oil pan and when you do a wheelie, the oil runs to the back of the engine and the pump run dry. On a good tight engine running without oil can be tolerated for a bit, but the older and looser the engine is, the quicker it will lock up and ruin the engine.

Some of the Honda sport bikes are particularly prone to oil starvation when doing wheelies. In fact, the early Z1 Kaws (motorcycle) would accellerate hard enough when drag racing that the oil would slosh to the rear and starve the engine and installing a homemade flap check valve was necessary.

not unless you can hold you wheelie for more than 5 mins. xD

but, wheelies can be very hard on your bearings in the front wheels, if you come down hard.

those are usually 60$ to buy, if you can replace them yourself.

Nope

Unless you crash or flip it

--Mikey B--