78 Pace Car Market Value?

[Jeff G.]

I have a friend looking at a 1978 Pace Car L82. Since both of us don't know much about these cars I figured someone here could help. He's looking at a one with 48k miles, no hit, unrestored, no docs, pretty clean. I've attached some pictures for reference. What do you think is the high / low market value? Any other comments about this year / type would be helpful.
Jeff

[Tom H.]

Re: 78 Pace Car Market Value?

With limited info and just throwing out a range. 12 to 16K. JMO Pace cars are always popular and one of my all time favorite Corvettes.

[Steven B.]

Re: 78 Pace Car Market Value?

'Missing the shielding.

[Stuart F.]

Re: 78 Pace Car Market Value?

The 10k to 16k range sounds good to me. My son has dealt with 3 P.C.'s, 2 of which were Top Flighted, but all were low mileage cars. His all sold north of 34k, but were good examples of L-82 4-speed low mile cars complete with all docs, incl. Decals in original box, etc. 78 P.C.'s that tall in the tooth (mileage), even with perfect paint and maintenance, will not fetch much above 20k.

I'd alert him to this thread, but he's busy planning receipt of his next venture; a 96 G.S.. He got tired of looking for a 4th 78 P.C. all around the country. Guess he figured he'd already owned the best ones out there.

Stu Fox

[Jeff G.]

Re: 78 Pace Car Market Value?

Thanks Guys,
This one is automatic which might lower it's desirability. I'm not aware of any decals that would come with the car. I've seen some with a chrome air cleaner lid and others with black, not sure which is correct for L82. Another thing that struck me is the valve covers on this one, see picture.
Jeff

[Stuart F.]

Re: 78 Pace Car Market Value?

Decals are those used on sides of car "Indianapolis 500", etc.. Usually came in a box for application by owner or dealer. Top lid of air cleaner I believe was chrome, the valve covers look correct, but the shielding substitute of tie wraps suggests lots of issues. Looks like smog air pump and hardware are in place, but no belt on pump. Someone we usually refer to as "Bubba" has had there days with this car.

One good thing is that the T-Tops are the correct silver reflective finish. All too often you see substituted Blue Tint tops on 78 P.C.'s.

Stu Fox

[Tom H.]

Re: 78 Pace Car Market Value?

Black air cleaner and finned aluminum valve are both correct for L82.

[Harmon C.]

Re: 78 Pace Car Market Value?

It's all in the paint on cars with 50k miles on them. If you don't like the paint walk away. The threads on a paint job at 7-12K tell you to buy a car with paint you can live with. Theres no room to pay for a paint job let alone all the time the car will be in the shop.

[Clem Z.]

Re: 78 Pace Car Market Value?

i remember when these cars were new the dealership was getting $20K+ at the auto auctions. after most people found out there was gong to be 5000+ of these corvettes the market came to a screeching halt. i know people who bought "0" mile one for the sticker price from collectors later.

[Mike G.]

Re: 78 Pace Car Market Value?

prices are down on all cars except the the best top flight cars. collectors still pay a good price for those. lately i have seen the new, no miles pace cars coming out on the market and they are only bring 25 to 29k range. a nice one with 48k miles would be somewhere in the 10k to 15k range depending on how nice the car is. average on the 10k side and nice on the 15k side. i also like these cars. i have a yellow 86 pace car. love the pace cars.

[Steven B.]

Re: 78 Pace Car Market Value?

i remember when these cars were new the dealership was getting $20K+ at the auto auctions. after most people found out there was gong to be 5000+ of these corvettes the market came to a screeching halt. i know people who bought "0" mile one for the sticker price from collectors later.

Correct Clem! I had a very early PC on order (L-82, 4 speed, cloth and leather) for sticker and decided not to take it so the dealer, a friend, let it go to another friend of our's. He took delivery at sticker and trailered it home then promptly sold it for $23,000.00. A years ago the car sold for $16,000.

[Jeff G.]

Re: 78 Pace Car Market Value?

I was looking at the production numbers and found that 6500 Pace Cars were made. I believe that was enough for each dealer at that time to get at least one. Additionally, out of 40K Corvettes made that year, over 15K of them had the Silver Anniversary paint (seems like a lot). I assume that would be the same 2-tone paint that the PC's had.

[Reba W.]

Re: 78 Pace Car Market Value?

Silver Anniversary paint was was silver and gray two-tone, not the black and silver of the Pace Cars.

[Michael D.]

Re: 78 Pace Car Market Value?

It's nice to see the silver cloth.

[Tom R.]

Re: 78 Pace Car Market Value?

I have a friend looking at a 1978 Pace Car L82. Since both of us don't know much about these cars I figured someone here could help. He's looking at a one with 48k miles, no hit, unrestored, no docs, pretty clean. I've attached some pictures for reference. What do you think is the high / low market value? Any other comments about this year / type would be helpful.
Jeff

Jeff

The interior, soft fabric is very nice for a 48k car. Almost looks to good but to my knowledge, no one is making the cloth pace car replacement. The paint looks relatively nice but than that's an assessment from one photo and some distance. Looks like a clean car but than there is the underneath where the sins of neglect tell the real story.

I've looked at many of these cars and from underneath. Look for leaks and wet surfaces around the brakes, power steering pump, oil, pan, tranny pan, and rearend. Having said that I can't disagree to any of the suggested values contributed by members above. High mileage Pace Cars are not the same as other Corvettes...48k would be considered high mileage for a Pace Car but the photos do not show those kind of miles. YOu would expect the cloth interior to show 48k...so the car seems to have some redeemable qualities. I'm attaching a link to an article published in Corvette Enthusiast on Pace Car values, published last year.

http://www.hunt4cleanair.net/Articles/pacecarfrenzy.pdf