So I have a chance to purchase a 1978 Pace Car barn find with 29k original miles. I'm not sure how long it's been sitting but it's a complete car that looks like it just needs to be cleaned up and buffed. Does anybody have any ideas what a good purchase price might be? I've got a C6 and never really pay much attention to C3 prices.
Any help is appreciated.

 

We've all seen Pace Cars, but your description is a bit vague. Have you seen the car? VIN? 4 speed? L-82? Cloth/leather? Overall condition?

What is the seller asking? If he/she is out of the "realistic" range, you can pass on this one and keep looking.

 

It will be going up for auction so I'm just looking for a top dollar number so I know when to stop bidding. I have only seen one picture of the car and one of the engine bay. It appears to have leather interior. For some reason the tee tops are not in it so I don't know if it was stored like that or if they even have the tee tops. Also not sure of the VIN, trans, or whether it's a L-82 or a L-48. It has the lettering on the doors but it doesn't seem to be the correct letter as the "Official Pace Car" is all white letter instead of the red with white outline. I know this isn't much to go on but didn't know if someone could get me in the ball park. I know the prices have dropped significantly in the last few years so I didn't know what a barn find that needs some TLC would bring.

 

The lettering could be incorrect or it could be faded. Another option to consider is if it's some kind of photographic effect (sun hitting it in the right way, drenching the color out of it).

Of course, I've not seen the photos so I am guessing at best.

 

Will you attend the auction and have a chance to see the car before bidding? If not, my advice would be to contact the auction company and obtain as much information as you can about the car.

Needless to say, anything can happen at an auction.

Good luck.

 

I'll take a stab at it. Assuming its in the excellent condition one might expect for a 29,0000 original mile car it could go for $15-20k. But I doubt its in excellent condition. You really need to see it before you can get an idea as to the max to pay.

I saw a pace car for sale when I was looking for a Corvette, 50 some odd thousand miles, currently driven, in excellent shape according to owner, original L82 4 speed, loaded with options. Was asking $18,000 and my budget was $14000 plus $4000 to get the car bought and shipped. I never looked at it but wish I'd have tried to get him down to $14000. Don't know if the car ever sold or not.

 

I bet it's a turd and the owner thinks it's worth a fortune.

My auction prediction: Reserve not met, no sale.

 

The first thing you need to do, is confirm that it really is a 78 Pace Car. The Pace Car has a unique VIN number, to differentiate it from the rest of 78 production. Quite a few "regular" 78's, have been painted black and silver, and described as Pace Cars and/or anniversary cars.

You really haven't given us much to work with, but I'll take a shot and say that tops for a private sale (non dealer) 29,000 mile Pace Car in decent condition, is probably around the mid teens.

If you check on line, you'll find that Pace Car prices are all over the place. You'll find cars with 15,000 miles for $22,000, ones with 19,000 miles for $30,000, with 20,000 miles for $16,000, 15,000 miles for $22,000, 30,000 miles for $29,000 and 800 miles for $34,500!

Be aware that if the original glass tops are missing, a correct original set of 78 dated, LOF, "Blue" tint glass tops, will easily cost you $1,500+, if you can find them.

 

That wouldn't surprise me at all.

 

OP, don't forget that the '78 PC was the favorite car to put away and hope for a fortune later. The car arrived amid a ton of fanfare an GM produced many, many more than was originally advertised. All sorts of people put them away expecting to cash in. It is not uncommon to see multiple 78 PCs roll through an auction with unbelievably low miles and in great condition.

So, do NOT get too excited about a barn find on one of these. 29k is not especially low miles and if the condition is weak, I would agree with qwank and assume the owner thinks its worth too much.

And if he watched the Nebraska auction last year, it's very likely he's delusional.

 

This is all great information and I really appreciate the feedback. I failed to mention this is at an estate sale and not an auto auction. This being said I don't believe anything will have a reserve on it so I'm hoping for the best and hopefully pick up a nice pace car for a good price.

 

Don't be surprised if bidding starts to excel rapdily upward! In the past eight months, well documented, low-mileage, original Pace Cars have fetched $75k to $80k. Of course this is only a few and are outlyers but it is happening with these Corvettes. I witnessed the Rodger Judski Pace Car go for $75k at the Mecum Orlando auction and is an excellent example of St Louis Pace Car production. Then there was the Lambrecht auction and the Scottsdale auction where they fetched top dollar.

 

My wife and I purchased a 78 Pace Car with 15k original miles. Not uncommon when you read the history. Look out on Cars.com. You will see many out there. Most with less miles then the one you found. Some have been out there for quite some time. 29k miles I am guessing around 17 to 18K. There is one out there with 150 miles for 40k.

But if you do not hit this one there are plenty out there.

 

So just to give everyone an update the auction was this weekend. I was able to attend and of course everyone there was talking about the Pace Car. It was a fairly small auction in a town of maybe 500 people. It was definitely a true pace car, #2220 to be precise. Base engine automatic. It had been stored for 27 years without t tops. The guys girlfriend got mad at him one night so she threw them away. They put a new battery in it and ran a new fuel line to a gallon jug of new gas. Fired right up. They started it before the bidding started and it actually sounded really good. No knocks, tings, rattles, squeals, and to my amazement the exhaust was still good. Of course, being stored in a barn without the t tops you can imagine what kind of shape the interior was in. Seats were tore, carpet was missing, mice nests everywhere, the speedometer was stuck on 25. I could tell the fender had been replaced at some point and the silver didn't quite match and the red pin stripe was coming off. It had the correct letters on the door but the red was almost faded white. It needed a lot of work but I knew after sitting that long any car would need a little TLC. BUT it ran and they actually drove it out of the barn so that was a definite plus. So the bidding started and I just sat back. Started at $10k, no takers, dropped to $5k, still no takers. Finally someone bid $2k and that got it started. It got to $7k in no time and once it hit $6k people were starting to laugh like that was too much for it. I decided before the auction started that my limit would be $7,500. I wasn't really looking for another car and don't have a lot of money to be blowing on cars but I figured if I could pick up a true pace car for a decent price then why not. So I let it set at $7k for a little bit to see if anybody else would bid. Finally, I threw my hand up for $7,500 (my max). The other bidder hesitated and I thought for sure I had it but he came back with $8k. They tried like heck to get me to go $8,100 but I resisted. It wasn't a "had to have" car.

It was definitely a neat experience. It's not everyday you can bid on a barn find 1978 Corvette Pace Car. I really wish I could have got it but like I said it wasn't a "had to have" car at this point. I know this was a long post but I just had to share my experience. Hope you enjoyed and thanks again for all the input and suggestions.

 

It *may* have been a decent deal at 8-9k, although the "mice nest" thing could end up blowing the budget (and your patience) to bits.

 

I applaud your patience and restraint...the options weren't right to go after it. The effort to restore would have been several thousand and you may still be in the black but its still an L48 auto. My Pace Car L82 M21 is #2324...not far from the #2220 but it has little to offer restorers in terms of options.

 

IMCO you did the best thing by walking away. A money pit for sure. I agree with gbvette62 the prices are all over the place and I would not justify settling because a few have sold in the 75K range. Remember what Vettebuyer5869 said about barn finds too.