I admire the owner of this 1978 Chevrolet Corvette. They had long dreamed of owning a Limited Edition Pace Car, a dream that became a reality in 2020. However, they are also a realist. They acknowledge that the car doesn’t see the use it deserves and have decided that they would rather see it head to a new home than sit in a shed gathering dust. It isn’t a pristine example but a tidy, unmolested driver-grade classic. The seller has listed the Corvette here on eBay in Savannah, Tennessee. Bidding sits below the reserve at $11,300 with a BIN of $20,000 for those who view this survivor as a must-have.

Being selected to supply the Pace Car for the annual Indianapolis 500 is a great honor, and it has been granted to the Chevrolet Corvette on twenty occasions. It was first handed the baton in 1978, and like any manufacturer worth their salt, Chevrolet leveraged the considerable public exposure by releasing a Limited Edition Pace Car version for sale to the public. That model year marked the twenty-fifth anniversary of Corvette production, with the company planning to build 2,500 Pace Cars. However, there was a backlash from dealers who feared they might miss out, and eventually, 6,502 rolled off the line. This guaranteed that every Chevrolet dealer received a car to park in their showroom. The seller purchased this classic in 2020 from a collection in Long Island, New York. It is a tidy and clean vehicle that they believe may have received a repaint. The distinctive Black and Silver exterior shines nicely, with only a few imperfections that don’t require immediate attention. The decals are crisp, with no shrinkage or checking. The lack of corrosion across various areas suggests rust shouldn’t be an issue, and the alloy wheels are free from oxidizing. The seller admits that one glass top panel is cracked, although it doesn’t leak. New replacements are available, but a brief search of one online auction site uncovered a good genuine panel for under $200.

All Limited Edition Pace Cars received interiors trimmed in Silver, including the leather seatcovers. The inside of this Corvette is unmolested, and its presentation is acceptable for a driver-grade classic. Pale carpet is prone to wear and stains, and this car hasn’t escaped those issues. However, the worst of its shortcomings are confined to the mats, and a deep clean should make a difference to the presentation. The seats are free from edge wear, while the plastic is excellent. There are no aftermarket additions, and these cars rolled off the line nicely equipped in a 1978 context. The new owner receives air conditioning, power windows, power locks, a power antenna, a tilt wheel, and an AM/FM radio/8-track player. The seller acknowledges that the antenna doesn’t lower but believes the switch is the culprit. The radio works as it should, although the tape player operates intermittently. Those are the only identified functional problems.

This Corvette is a numbers-matching vehicle powered by the L48 version of the 350ci V8. The small-block delivers 175hp and 265 ft/lbs of torque, with shifting duties falling to a three-speed automatic transmission. It is interesting to compare the performance figures of this ‘Vette twenty-five years after the original rolled off the line. The Pace Car should take 17. 2 seconds to cover the ¼-mile on its way to a top speed of 101mph. A 1953 Corvette covered the same distance in 18.1 seconds, with its motor running out of breath at 102mph. Considering the fire-breathing beast the C3 had been at the start of its production life, the 1978 model graphically demonstrated how profound emission regulations impacted vehicle performance. This Pace Car sees limited use, sitting in a shed connected to a battery tender most of the time. However, it is in excellent mechanical health, with the seller stating they wouldn’t hesitate to drive it anywhere.

Many buyers speculated when Chevrolet released the 1978 Corvette Limited Edition Pace Car, storing their new purchase, believing that values would climb significantly. Sadly, the opposite was the case. Not long ago, you could purchase a pristine low-mile example for less than the original sticker price. However, values have begun climbing, and the seller’s BIN figure for this one is realistic. The action hasn’t been intense, but history shows that this often changes as an auction draws to a close. I would be unsurprised if someone hits the button if the bidding gets close. I hope they don’t leave it in storage when it gets to its new home because cars like this deserve to be driven and enjoyed. The seller realizes this, and that is why I take off my hat to them.