78 pacecar originality
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Instructor
Joined: Jul 2015
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78 pacecar originality
I purchased my pacecar back in 2000 at the ignorant age of 19. It seemed like a steel at the time since the engine was seized I got it for basically half price. I had a mechanic friend drop in a cheaper crate motor after he discovered the original block was destroyed. Since then I've maintained the original look of the car everywhere but under the hood. Air conditioning gone, clutch fan gone and some new chrome accessories in place. Now I'm nearing the age of 35 and trying to decide if I should restore it to be more original since kept all the original parts except the block or if I should not worry about it maybe drop an LS motor in it. Any opinions would be great or how to find a correct block would be even better.
Team Owner
Joined: Jun 2000
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From: Southbound
Cruise-In II Veteran
The Pace Cars were assembled in March, April, and May, 1978 with most of them coming off the line during April. Check the time build code on your trim tag. You will want an 010 block cast within six weeks of your assembly date.
Administrator
Joined: Jul 2000
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From: About 1100 miles from where I call home.
Early Corvettes (C1/C2) seem to benefit with an enhancement in value with the addition of a "correct" block when the original is gone forever, but I'd say trying to make a Pace Car "more original" with a "correct" block is uncharted waters, and I'd guess probably not going to add a whole lot to the value.
I think it would probably be easier to sell with an stock-appearing engine compartment as opposed to a crate motor, no AC, chrome, etc but I think a Pace Car takes a huge value hit with a replacement motor.
I think it would probably be easier to sell with an stock-appearing engine compartment as opposed to a crate motor, no AC, chrome, etc but I think a Pace Car takes a huge value hit with a replacement motor.
Burning Brakes
Joined: Oct 2013
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From: Sutton MA
I think you answered your own question way back at 19, You bought the car at half the going price because of a seized engine. I don't think you'd take the same hit because it does run, but if I were in the market to buy one, not having the original engine I would expect to pay considerably less than one that did. I would consider myself an average buyer, so I'm sure collectors would be much pickier.
Le Mans Master
Joined: Sep 2002
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From: Myrtle Beach SC
You preserved the option to return the Pace Car to near originality (less block) having saved original parts. Easy Mike's comment suggests that by searching for a 010 block with a casting date within six weeks of your trim tag date code, you can very closely approximate the originality of the Pace Car. Does the current replacement block sport the original hardware such as carb, manifold, etc.?
Sounds like you picked it up for a pretty good price and given the fact that Pace Cars have a unique VIN serial number, you may have also preserved some of its value.
You have options!
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Safety Car
Joined: Oct 2000
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From: Albuquerque, NM
Do whatever makes you happy. You can make it look original but unless the original block can be saved, it will never have its original engine. There are so many low mileage original Pace Cars out there, there's really no reason to feel bad about making yours into whatever you want it to be.
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Instructor
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Thanks for all the info/opinions they are much appreciated!
The block was scrapped sometime back in 2000 without my consent. I was told it wasn't repairable but I still have the heads, manifolds etc. I knew very little at the time but I knew I wanted to keep EVERY part possible so I could have options later. Needless to say I wasn't very happy with this mechanic friend of mine.
BTW originally it was an L48 automatic trans 6288 of 6502 produced
The block was scrapped sometime back in 2000 without my consent. I was told it wasn't repairable but I still have the heads, manifolds etc. I knew very little at the time but I knew I wanted to keep EVERY part possible so I could have options later. Needless to say I wasn't very happy with this mechanic friend of mine.
BTW originally it was an L48 automatic trans 6288 of 6502 produced
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Instructor
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I'd like to get the value up and sell it in the next couple of years. Not that I don't love the car but I've become a better mechanic then my "friend" was back then and would like to acquire a '69 project car and go full blown throw back racer on it! 
Safety Car
Joined: Jan 2001
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From: Norwalk Ct
There are quite a few 78 Pace cars out there that owners stored from new thinking that they would bring big money one day, never really happened. So the effort and time to go hunting for a block (which would still be non-original) v's just making whats in there original "looking" may not result in as big a $$$ increase as you imagine.
Burning Brakes
Joined: Oct 2013
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From: Sutton MA
There are quite a few 78 Pace cars out there that owners stored from new thinking that they would bring big money one day, never really happened. So the effort and time to go hunting for a block (which would still be non-original) v's just making whats in there original "looking" may not result in as big a $$$ increase as you imagine.
and Pace cars will as just the same. Now is the time to buy them as reasonably as you can. I have a customer that bought an Austin healey when they weren't worth crap. now they are worth good money and from what I've been told worth quite a bit. Soooo, do as you wish, I would try to figure out the cost of the engine upgrade vs. what value you might gain. It may just be better to sell as is.
Pro
Joined: Dec 2014
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They will in time. Late model C3's will increase in value as time goes on.
and Pace cars will as just the same. Now is the time to buy them as reasonably as you can. I have a customer that bought an Austin healey when they weren't worth crap. now they are worth good money and from what I've been told worth quite a bit. Soooo, do as you wish, I would try to figure out the cost of the engine upgrade vs. what value you might gain. It may just be better to sell as is.
and Pace cars will as just the same. Now is the time to buy them as reasonably as you can. I have a customer that bought an Austin healey when they weren't worth crap. now they are worth good money and from what I've been told worth quite a bit. Soooo, do as you wish, I would try to figure out the cost of the engine upgrade vs. what value you might gain. It may just be better to sell as is.
I would not bet on later C3 values going up a lot or staying at a high level forever. There are a lot of older collectible cars that have really taken a beating price wise over the past few years. At a certain point a lot of the people who had nostalgia for the cars when they were new(ish) get too old to enjoy them or die off. While Corvettes have done better than most (which I attribute partially to the model still being made) there is no guarantee that the children of tomorrow will share our appreciation of the C3. I could be wrong and I hope I am... but if I was going to make an "investment" cars aren't where I'd put my money. That's not to say I'm against buying C3s... but I do it because I love them not because I expect to make any money. I know I've put huge amounts more into my 1980 C3 than it will ever be worth. And that's just fine.
Le Mans Master
Joined: Dec 2009
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From: Saskatoon Saskatchewan
I would not bet on later C3 values going up a lot or staying at a high level forever. There are a lot of older collectible cars that have really taken a beating price wise over the past few years. At a certain point a lot of the people who had nostalgia for the cars when they were new(ish) get too old to enjoy them or die off. While Corvettes have done better than most (which I attribute partially to the model still being made) there is no guarantee that the children of tomorrow will share our appreciation of the C3.
At this time the chrome bumper C3's are pretty popular, but I don't think their styling is as timeless because of the chrome bumpers. I speculate that to future young car buyers the chrome bumper cars will look a little dated whereas the rubber bumper cars still have the look that could have just come off the showroom floor.
There certainly are people now that prefer the looks of the rubber bumper cars to the chrome bumper cars with the 80-82 models in particular seeming to be considered the ultimate C3.
Last edited by Priya; Jul 16, 2015 at 04:39 PM.
Burning Brakes
Joined: Oct 2013
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From: Sutton MA
I wouldn't bet on later C3's going up in value either but I think they will. My 78 has widespread appeal and young children (8-10) seem particularly taken with it. The later C3's in particular have a timeless super good looking style to them whereas new cars have almost all been pretty bland looking for 20-30 years. Maybe the future will bring attractive styling back to new cars, but I wouldn't bet on that either given the constraints of having to be fairly aerodynamic.
At this time the chrome bumper C3's are pretty popular, but I don't think their styling is as timeless because of the chrome bumpers. I speculate that to future young car buyers the chrome bumper cars will look a little dated whereas the rubber bumper cars still have the look that could have just come off the showroom floor.
There certainly are people now that prefer the looks of the rubber bumper cars to the chrome bumper cars with the 80-82 models in particular seeming to be considered the ultimate C3.
At this time the chrome bumper C3's are pretty popular, but I don't think their styling is as timeless because of the chrome bumpers. I speculate that to future young car buyers the chrome bumper cars will look a little dated whereas the rubber bumper cars still have the look that could have just come off the showroom floor.
There certainly are people now that prefer the looks of the rubber bumper cars to the chrome bumper cars with the 80-82 models in particular seeming to be considered the ultimate C3.
At some point they will go up in value, I may not be around to see it but they will. 
Pro
Joined: Jun 2014
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I guess the question is: what is your intent w/ the car?
do you want a collectible car?
or are you going to drive it?
and collectible cars have a lot of criteria: pristine condition, original, low miles, etc.
if you are just going to drive it: do what you want w/ it (and be happy)
part of the reality is: it's 37 years old. 37 year old engines in cars don't last forever! if that's the case you have to put something in it to make it drivable. and it sounds like you did that, by having a friend do it for you. and of course you are limited by your budget and resources. if you pick up a corvette catalog and look at the prices of replacement stuff-IT IS EXPENSIVE!!!! at 19 you probably didn't have the resources to do everything "collectible correct"!!!!!
do you want a collectible car?
or are you going to drive it?
and collectible cars have a lot of criteria: pristine condition, original, low miles, etc.
if you are just going to drive it: do what you want w/ it (and be happy)
part of the reality is: it's 37 years old. 37 year old engines in cars don't last forever! if that's the case you have to put something in it to make it drivable. and it sounds like you did that, by having a friend do it for you. and of course you are limited by your budget and resources. if you pick up a corvette catalog and look at the prices of replacement stuff-IT IS EXPENSIVE!!!! at 19 you probably didn't have the resources to do everything "collectible correct"!!!!!