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1978 Pace Car - What's it worth? Any Advice?

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1978 Pace Car - What's it worth? Any Advice?

 
Old 03-11-2014, 06:49 PM
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SteppingUpCollection
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Default 1978 Pace Car - What's it worth? Any Advice?

Good info - thanks for providing your experience! My hubby and I are looking at a 1978 Pace Car. Asking price is $25K, which appears to be median price according to KBB, but sounds overpriced based on comments here. 15K original miles and looks like it has been garaged most of it's life. Already know door locks, heater/AC fan don't work but engine is strong and steering is tight. Am having a mechanic look it over. Any specific advice when looking at a car that has been sitting for this long? Should we walk away?

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Old 03-11-2014, 11:56 PM
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I bought a 1978 (not the pace car) for a third the price and a 400HP performance motor with 5000 miles on it 18 months ago. Mine is not an original engine but is in very good shape (newer paint job, carpeting, etc.) so $25k seems high to me.

It is hard to get a KBB or NADA estimate but if you shop around, you will be able to get some comparable prices. There seems to be a lot of 1978ish cars out there.
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Old 03-12-2014, 05:51 AM
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Originally Posted by SteppingUpCollection View Post
Good info - thanks for providing your experience! My hubby and I are looking at a 1978 Pace Car. Asking price is $25K, which appears to be median price according to KBB, but sounds overpriced based on comments here. 15K original miles and looks like it has been garaged most of it's life. Already know door locks, heater/AC fan don't work but engine is strong and steering is tight. Am having a mechanic look it over. Any specific advice when looking at a car that has been sitting for this long? Should we walk away?
Consider that in recent months at auctions very low-mileage L82 M21 Pace Cars have fetched $75-80, it could be concluded prices are moving upward. The asking price of $25k doesn't seem unreasonable but mid-low 20s would be a nice range to pick it up. If I wanted a Pace Car, I wouldn't walk away if all is in order and matching.

I have looked at many with low miles and those with issues typically are leaks, seals and calipers which must be viewed from underneath. Make sure your mechanic looks at it while on a lift. Deduct the cost of repairs from the $25k and you may have the basis for a low 20s offer.

There may be something at this link that may be helpful. I would ask if the original decals come with ($300), t-top bags ($125), Jack ($125). These become perishable items that get removed as a Pace Car moves from owner to owner and than cost bucks to replace.

Pace Car
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Old 03-12-2014, 11:29 PM
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There is another post about a 79....

http://forums.corvetteforum.com/c3-g...t-of-mods.html
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Old 03-13-2014, 05:08 PM
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Default Questions from inspection today

I'm seeing a thin light line down the crease of the fenders. Could it be paint has been rubbed off down to base coat? Is this common?
Pinstripe should be right on the seam of the two colors or lower on the silver paint?
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Old 03-13-2014, 07:27 PM
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Originally Posted by SteppingUpCollection View Post
I'm seeing a thin light line down the crease of the fenders. Could it be paint has been rubbed off down to base coat? Is this common?
Pinstripe should be right on the seam of the two colors or lower on the silver paint?
The tape stripe is silver and red. The Pace Cars were painted completely black first. Then the top of the cars were masked off and the silver was painted on. The silver/red tape stripes were then applied to cover the paint line were the black and silver met. There was no clear coats in those days, so this is what GM did to cover the paint line. As the silver was painted over the black it left a distinct line that can be seen under the tape stripe. The silver and red on the hood is all tape that is laid over the black so you will not see any paint line under that stripe.
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Old 03-14-2014, 05:26 AM
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Originally Posted by SteppingUpCollection View Post
I'm seeing a thin light line down the crease of the fenders. Could it be paint has been rubbed off down to base coat? Is this common?
Pinstripe should be right on the seam of the two colors or lower on the silver paint?
Should look like this...

Name:  nose.jpg
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Old 03-14-2014, 09:52 AM
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Originally Posted by SteppingUpCollection View Post
...I'm seeing a thin light line down the crease of the fenders. Could it be paint has been rubbed off down to base coat? Is this common? Pinstripe should be right on the seam of the two colors or lower on the silver paint?...
Do Google > Images > 1978 Corvette Pace Car and the pix will start to pop up. There are 6501 others like the one you're looking at.

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Old 03-14-2014, 11:09 AM
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Originally Posted by SteppingUpCollection View Post
I'm seeing a thin light line down the crease of the fenders. Could it be paint has been rubbed off down to base coat? Is this common?
Pinstripe should be right on the seam of the two colors or lower on the silver paint?
You can generally look at the overall paint to tell if the clearcoat is gone.

I have the same prob on my Silver Anniversary. The clearcoat is 80% gone and the fenders have that 'crease' shadow in the front fenders. I've seen some bare (no paint) cars and seen the same crease in the fibre glass.

My conclusion is that the paint is work thin in those areas. Yes...I really need a paint job...but its the 2nd last thing I will do...
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Old 03-14-2014, 11:34 AM
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Originally Posted by 78SilverCam View Post
...You can generally look at the overall paint to tell if the clearcoat is gone...I have the same prob on my Silver Anniversary. The clearcoat is 80% gone...
There was no factory clear coat on the 78 models. All were originally acrylic lacquer.

No clear coats until 1981 Bowling Green production and the switch to enamel.

Last edited by Easy Mike; 03-14-2014 at 11:36 AM.
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Old 03-14-2014, 01:18 PM
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Default Thanks All!

Thanks everyone for your input and advice - appreciate your guidance as we consider our first Corvette purchase!

I did think to Google pictures to determine pin stripe placement, and good to know the paint process to understand what to look for.

Thrilling to look the car over in detail at mechanical inspection. I think we're gonna make an offer.
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