I'd throw the LS-6 in there too.

I remember when the '78 came out - the pace cars were considered "collector's items" right off the bat, as were the silver anniversary paint scheme cars. Many of these Corvettes were put on blocks right off the showroom floor for the day when the owner was going to cash in. Finding a 200 mile regular '78 is waaaay more rare than finding the same in a pace car. As a matter of fact, I think it's also rare to find a pace car with over 40k or 50k miles; most have been kept to low mileage for the "collectability" reasons.

 

All the hype and craziness around the Pace Car was initially because of a March 78 front page article in the Wall Street Journal claiming the Pace Car was going to be hard to get and a great investment.

As soon as rumors of the Pace Cars started to show up in the general automotive and Corvette magazines, a friend went to the dealer that was our club sponsor and gave them a thousand dollar deposit. This was before anyone even knew what the Pace Car was going to look like. The dealer didn't know what he was talking about and had to call the Philly zone office to see if there was any truth to the Pace Car rumors. They agreed the price would be sticker, but of course when it came in the dealer was inundated with calls from people wanting to buy it. At first the dealer tried to get to out of the sticker price deal, and in the end sold it for $1000 over sticker to my friend. When word got out that he had the Pace Car he started getting calls from people who wanted to buy it. His was a pretty basic L-48 automatic, and I think he paid less than $16K for it. He turned down multiple offers of $20K-$22K for the car, and I tried to convince him to sell it. Two years later he started a business and needed a van and traded his Pace Car with about 3000 miles on it back to the same dealer on a new ChevyVan. I think they gave him around $10K-$11K for it.

A friend who was autocrossing a 69 B Prepared Corvette in 78 decided he wanted a Corvette for his daughter to autocross. He bought an L-82, 4 speed, Gymkhana Suspension equipped Pace Car for her from a dealer in our area who had bought 6 or 7 Pace Cars from other dealers. He paid around $20K for it with less than 100 miles on it. He didn't even care that it was a Pace Car, he bought it because it was the only L-82/4 speed/Gymkhana he could find within a few hundred miles of us. She immediately started autocrossing it on weekends and driving it during the week. Around 1980 she totaled it on the Walt Whitman Bridge over the Delaware on her way to work one morning. It had about 20000 hard miles on it at the time. So if there really were only 200 L-82 4 speeds made, there's at least one less now.

A small little known dealer in South Jersey was unable to sell their Pace Car for some reason, so they gave it to our Corvette club to raffle off at our annual show in August 79, to benefit a local non profit hospital. I think that was a typical L-48 automatic PC.

There's a former dealer in Delaware (they lost their franchise in 09 during the Government's purge of GM dealers) who still had their 78 Pace Car a couple years ago. It had 18-24 miles on it, was still on the MCO and they were looking for $40K for it. This is another basic L-48, automatic Pace Car.

There's probably as many crazy Pace Car stories out there, as there are actual 78 Corvette Pace Cars...maybe more?

 

The 200 Pace Cars, refers to L82s with, and is a myth...perpetuated by sellers. The numbers reported by Jack Gerbic, quality control plant manager in 1978 is 512.

First of its Kind


By the late 1970s, buyers were opting for convenience tired of nitrous oxide fumes (due to lead free fuel), and the cosmetics, spoilers gave the Corvette a fresh look with an aggressive stance. The Pace Car sported, comfort, convenience and cosmetics...followed by what some 22 Corvette Pace Cars since. The 1978 INdy Car was the first and today enthusiasts enjoy a sports car with performance and handling to accompany comfort, convenience and cosmetics. They remain collectible to this day...but as noted those that garner the most value have features in a unique class. A 30,000 mile Pace Car, whether 4-speed is not in that class. A 30 Pace Car is a driver, one to be enjoyed.

If you wish to study up on 1978 Pace Cars see 1978 Pace Cars News & Media

 

The other option is sell the C6 and use the funds to buy the '78. A stable with a 70 and 78 would be pretty sweet.

 

You seem to like making modifications. I would not make too many mods to a nice pace car. No real price appreciation expected with that one. I think they are sexy.

The blue L-46 Vert 4 speed would be a keeper in my book. I would never sell it. Probably one of my most favorite C3 cars, especially with A/C.

 

Good morning, thanks to all that responded to my inquiry... as stated yesterday I have decided to stay with my 70.

As stated I wasn't looking for financial investment in a C3 corvette, those who know me from my posts know I do not care about money I invest in my cars vs what I can sell them for... I love the hobby.

I also did not set out looking for a L82, 4 speed pace car... an opportunity arose and wondered if I should grab a car that may be hard to find in the future while the opportunity was there.

The last comment that I like to modify my cars is very true and what would I do with a car I cant play with in that arena.
I am sticking with the 70, always little things I can do while not worrying about driving it... maybe change wheels for a little excitement, again thanks to all.

 

I remember when the 78 Pace cars first came out, reading in the Miami Herald classifieds, one selling for $75k and another for $90k.
Being a former 68 L89 owner, the Corvette at the time had lost a lot of appeal to me since it was smog related "gutted". Didn't care at all for the Pace car paint scheme so I never inquired about the ones selling for $75k and $90k.

 

having owned my share of corvette convertibles (and just 1 t-top a 78 pacecar), other than personal enjoyment, mentioned repeatedly in all the previous posts in one form or another, there is really nothing special about the pacecar in general. the one i restored back about 15 years ago was a hard riding (no different than many C3 year models), somewhat underpowered example. To answer your question at the bottom of your post, the one you have available is modestly rare in that you say its a 4 speed (and only if it is a factory option installed, number matching unit). total production in 1978 was 40,274 corvettes of which 6502 were pace car optioned, 8162 total 4 speed trans factory equipped 78 model yr C3s. in my opinion, t-tops aren't nearly the same as an open air convertible, and the a/c equipped units are not the meat locker more modern varieties. my OEM 78 a/c had difficulty during the summertime to operate at less than full blast regardless of how many a/c specialists tried to improve it. loving the chrome year vettes does sku my opinion some i admit, and my pacecar always did attract attention, but so does my 1969 350/350 4 speed fathom green convertible.

 

A chrome bumper pace car would be dope

 

AI says...

 

I always say when I can't decide between two cars buy them both!