A highly preserved 1998 Chevrolet Corvette Pace Car Edition has come up for sale in Minnesota, offering one of the cleanest and lowest-mileage examples of the C5 commemorative model. Listed at $55,995 by Ellingson Motorcars in Rogers, the convertible shows only 63 miles on its odometer and carries an award record that reflects its near-new condition.
The 1998 model marked the fourth time the Corvette served as the Indianapolis 500 Pace Car. Chevrolet celebrated the honor with a limited production run of 1,163 Pace Car Edition replicas, each finished in Pace Car Purple with distinctive Indy 500 graphics. Only 547 were equipped with a six-speed manual transmission, placing this example among the rarer configurations.
Under the hood, the car runs an electronically fuel-injected 5.7-liter LS1 V8, rated at 345 horsepower when new. Power is sent to the rear wheels through a six-speed manual transmission and a limited-slip differential, a combination that helped cement the C5’s reputation as a capable modern performance car. Power steering with a speed-sensitive “Magnasteer” system, along with four-wheel anti-lock disc brakes, adds to its drivability.
The Pace Car Edition’s look remains unmistakable thanks to yellow cast-aluminum wheels and staggered radial tires, a black cloth convertible top, and the full factory Indy 500 livery. As presented, the car retains protective coverings from delivery, including on the seats and steering wheel—details that have contributed to several major awards. Its accolades include Bloomington Gold certification, NCRS Top Flight honors and an MCACN Concours Gold Certificate of Excellence.
Inside, the Corvette features two-tone black and yellow leather seats with power adjustment, dual-zone climate control, power accessories and an AM/FM/CD stereo. The cabin’s upholstery, carpeting and instrumentation appear untouched, consistent with the car’s status as a preserved collector piece.
For buyers seeking a nearly untouched C5 with documented prestige, this Pace Car Edition presents an investment-grade opportunity. With its rare manual transmission, award history and unusually low mileage, it stands out as one of the finest examples remaining from Chevrolet’s 1998 Indianapolis 500 tribute.
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