Are Corvette Pace Cars Really a Good Investment?

Hagerty compared the values of these Corvette pace cars to their regular counterparts and came away with some very interesting results. 

The Indianapolis 500 is one of the oldest and most celebrated motorsports events in existence, though it has struggled a bit in recent years. However, this year’s Indy 500 attracted more than five million viewers, at least, bouncing back in a big way recently after a few years of disappointing ratings. This sort of viewership is precisely why securing the right to produce the Indy 500 pace car has always been a great honor, and in that vein, Corvette pace cars have been more prevalent than most. However, whether or not those vehicles make good investments is a bit debatable.

Over the years, Corvette pace cars that were made available to the public have always been in high demand, and many have purchased one and stashed it away, in the wrapper, with the hopes that one day, it will make them a ton of money. It all started with the 1978 model, when GM built 6,502 Corvette pace cars for public consumption, and many paid well over sticker to bring one home so they could rake in a massive profit later on. That largely hasn’t happened, but a recent analysis of Corvette pace car values by Hagerty sheds some fascinating light on this topic.

While the 1978 Corvette pace car never really reached the lofty heights of value that many expected, those cars still sell for a big premium over regular models from that particular year – 60 percent, in fact, for those equipped with the L82 powerplant in #2 condition. When it comes to the 7,315 1986 Corvette pace cars built, the difference is a bit more slight at just around nine percent versus a standard convertible.

However, in 1995, GM built just 527 pace car convertibles, though they only command around a 21 percent premium over a standard Corvette from that same model year, and the 1998 model doesn’t fare any better at 6.5 percent. Interestingly, the 2002 Corvette pace car – which featured Anniversary Red Metallic paint with a Shale interior – could be had with an optional Indy 500 pace car decal package, and it turned out to be a decent investment by adding around 11 percent to the car’s value.

Moving on to 2007 and 2008, GM built just 500 Corvette pace cars those two years, and they’re worth 11 and 13 percent more than their regular counterparts. Actual pace cars used in the Indy 500 are worth more in some cases, but not always – at auction, many have hammered for little more than a replica, while others – such as a group of 18 sold at a Mecum auction around two years ago – garner far more, in that case, $1.375 million, or $76k each, on average.

Looking at this data, it becomes quite clear that securing a massive profit on Corvette pace cars isn’t a terribly common occurrence, making the act of buying one and stashing it away seem, well, a bit pointless, for the most part. However, these pace cars also carry a bit of a premium compared to their regular counterparts across the board, at the very least, making them a bit more special, if nothing else.

Photos: General Motors, Mecum Auctions

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