Phil Pitalo's 1978 Corvette Pace Car

[D S.]

I attended the Motorama in Fort Worth, Texas this weekend when I came upon a beautiful 1978 Corvette Silver Anniversary Pace Car. It was Phil Pitalo's! We had a nice long chat about his car and he invited me inside the display area and showed me just how original it is. I believe he told me that it sat in two different Chevrolet dealership showrooms for decades before he bought it. I think he said it had less than 2700 actual miles. That would average out to 80 miles per year. It was a privilege to see a Corvette in its original like new condition. Phil's 1978 is a credit to the C-3 era.

Scott Sims
Texas Chapter

[Michael J.]

Re: Phil Pitalo's 1978 Corvette Pace Car

There are numerous examples of these '78 pace cars being hidden away and not driven, as the owners think they will be as valuable as the pristine C2s someday. Unfortunately for the owners looking for a long term investment, that has never happened so far, but they are nice cars, just not valuable.

[Wayne W.]

Re: Phil Pitalo's 1978 Corvette Pace Car

Yep, Many out there with less than 10 miles on them. The only ones that made a good investment on them were the people that sold them quickly when they were new. The went up to 20K one week and the bottom fell out in a few weeks. Never a good investment otherwise.

[D S.]

Re: Phil Pitalo's 1978 Corvette Pace Car

There are numerous examples of these '78 pace cars being hidden away and not driven, as the owners think they will be as valuable as the pristine C2s someday. Unfortunately for the owners looking for a long term investment, that has never happened so far, but they are nice cars, just not valuable.

Ah, yes....those C-2s. One would think that there was not another Corvette made but the C-2s if one were to pay heed to C-2 owners and Lord knows there are an abundance of them. The C-1s were the cars that made Corvettes America's sports cars. The C-2s followed for five years but the C-3s embodies what a Corvette should look like in a sports car and lasted for 15 years. The C-5s and C-6s subtly emulates the C-3 style.
However, the 1978 may or may not be an investment if investment is the primary interest. I think affection and desire for a particular Corvette is more important than investment. Originality plays a huge role. And after attending many Corvette shows it is refreshing to see a Corvette that is bone-stock original and not over-restored.

[Edward M.]

Re: Phil Pitalo's 1978 Corvette Pace Car

I judged a 78 pace car with 12 miles on it at an NCRS event many years ago. I was part of the mechanical team, judging the engine and engine compartment.

This car had been kept in climate controlled storage since it was new.

That is the only time that I ever had no deductions on a judging sheet, on any car, in any category.

[Tom R.]

Re: Phil Pitalo's 1978 Corvette Pace Car

I judge chassis for the 78 model year and a couple of weeks ago, had a chance to look at several with two standing out as representative of these low-mileage stowaways. Its the chassis that bears the sins of storage for the past thirty years...and where neglect is quite visible. Often its a new owner of a low-mileage Pace Car that decides to campaign it...both cars that come to mind were one year owners.

Both cars had different storage lives but both showed those original factory markings, stencils and shim marks. One with less than 1,000 miles, showed the natural metal finishes heavily rusted, exhaust system half-shafts and struts, etc. Leaks were obvious and had been around for awhile witnessed by dirt that accumulated around wet areas. But nice otherwise. The other is as described for Phil's car, with clear coat/lacquer on the natural metal to preserve the finishes but also showed nice original factory markings...both quite worthy of Bowtie consideration.

Also had a chance to study 900003, courtesy of Tom Hendrick's at Bud's Chevrolet with 42 miles showing on the odometer. A very nice example of originality, stencils, tags and inspection marks. The hobby is fortunate to have such a nice ensemble of a particular model year to survey and study factory originality and the owners willing to preserve them for this purpose.