The all-new C4 Corvette debuted in 1984 (you’ll note there are no 1983 Corvettes) and it truly was revolutionary. Say what you want from the ivory tower of 2017 where 600 horsepower Corvettes roam the streets, but in 1984, the Corvette was a formidable piece of hardware and a technological tour-de-force. And another thing happened along the way—people started buying convertibles again. Lee Iacccoca chopped the top off a K-car in 1980 and suddenly everyone remembered the convertibles were cool and why did we stop building those, anyway? So Corvette engineers designed the C4 from the start to have a topless version, which was unveiled for the 1986 model year. The first Corvette convertible in more than a decade was big news, and it ended up pacing the Indianapolis 500 that same year. In familiar Corvette fashion, pace car replicas were offered to the public and they snapped them up eagerly, partly because they were pace cars but likely because they were the fastest convertibles in the world.

Which brings me to this fantastic 1986 Chevrolet Corvette convertible, which is a real pace car replica. Technically, all 1986 Corvette convertibles were presented as “pace car replicas” but the one circling the track and currently in the Indianapolis Motor Speedway museum is yellow, and that’s the only one that matters to me. With just 55,965 original miles, two owners, and a huge pile of history and memorabilia that comes with it, this is one of the best we’ve ever seen. Unlike so many other C4s, it remains completely stock and unmodified, with only the usual service items having been replaced over the past 31 years. The yellow paint looks fantastic and it’s always been a great choice on a Corvette, with the yellow used in 1986 being bold and very similar to Daytona Yellow—it doesn’t care if it’s in-your-face or not. The pace car decals were not installed at the factory, but rather shipped separately so the dealer could install them at the customer’s request, and this car did not have the original decals installed and they were subsequently lost to the sands of time. However, this car does wear exact copies that were created just for this car by the experts at Phoenix Grafix, using colors and measurements taken from the actual pace car used at the 1986 Indy 500. That’s good news for this car, because they’re exactly right, and great news for you if you own one of these and want a set of decals—you can rest assured they’re completely accurate. Obviously the car has never been hit or wrecked, and like 99% of the Corvettes out there, it has never seen inclement weather so it’s spotless throughout. It’s a time warp back to the ‘80s, yes, but you’ve probably forgotten that cars were actually pretty darned good in 1986. This Corvette is living proof.

Speaking of proof, there’s more evidence of the car’s low mileage claims inside, where the beautiful charcoal gray leather interior is in fantastic condition. The perforated leather sport seats are as comfortable as they look and given the Corvette’s considerable cornering capabilities, they really grab and hold. There are some very minor scuff marks on the driver’s outer bolsters, which is all but inevitable on these cars, but everything else is in extremely good condition. The dash pad isn’t cracked, the leather-wrapped steering wheel isn’t rough and chalky, and the door panels don’t even show a little divot where the driver might have been resting his elbow. The carpets are also original and show quite well save for some very, very minor fading up around the shoulder belt mounting point, a place that gets a lot of sun exposure out on the road. Even more importantly, everything works, including the digital dashboard, which remains bright and clear, not dim and spotty. The A/C blows ice cold thanks to good old R12 refrigerant inside, the factory Delco/Bose stereo system sounds great, even with the top down, and the trip computer monitors a dizzying array of functions. Things like power windows, locks, mirrors, and seats were standard, as was a tilt column (this was pre-air bag, you know) and cruise control, so there was really no way to get a stripped Corvette. All of it works like it should. There’s a 700R4 4-speed automatic transmission, and to be honest, that’s really the right choice on an early C4 because the Doug Nash 4+3 manual gearbox was really clunky and not much fun. This one is purely “point and shoot” and it's a blast. The black canvas convertible top is the model of civilized operation, and yes, it’s 100% original including the crystal clear rear window, which should really tell you about how nicely preserved this ‘Vette really is.

1986 was a great year for another reason, too: the introduction of the 5.7 liter L98 V8 engine. Cross-Fire fuel injection was gone for good, replaced with a sophisticated multi-port fuel injection system that put an injector at each intake valve and delivered superior performance in every measurable way. And as the decades have proven, it’s probably the single most reliable engine ever built by man, as it is virtually indestructible, even when installed in an acceleration-happy Corvette. This is, of course, the car’s original, numbers-matching engine and with so few miles, it’s only just broken-in. It starts quickly and easily, and idles smoothly even when it’s ice cold—that’s the miracle of fuel injection. Those long intake runners help make the L98’s legendary torque, and this car feels insanely quick off the line because of it. Of note, convertibles came with aluminum cylinder heads, which added 5 horsepower and shaved about 50 pounds from the nose of the car, so they’re lighter and better balanced than the coupes. Nice, right? It’s completely original under the hood, with only the usual service items having been replaced over the years, and there’s nothing that needs attention today. Just get in and go. It runs right, idles properly, and pulls hard through all the gears.

Underneath, it’s likewise very clean and original, right down to the factory exhaust system with catalytic converters, so it’s 100% legal in every state. The aforementioned 700R4 4-speed automatic transmission snaps through the gears and offers a towering overdrive that makes this car a pleasure on long highway cruises and with 2.73 gears out back, the L98 is always loafing, with big performance just a prod of the throttle and a quick downshift away. Obviously there’s no rust, since the floors are fiberglass, but the steel frame is unmarked and in fantastic condition. The aluminum suspension arms, fiberglass leaf springs (introduced in 1982, actually), and giant brakes all show no signs of deterioration or problems. The ride is firm, yes, but not as abusive as the car magazines would have you believe, and this car feels much more connected to the road than a late-model C7, but you’d have to drive it to believe it. Recent 255/55/16 performance radials have been fitted to the original aluminum wheels, which are likewise unmarked and in excellent condition.

This car includes a massive cache of goodies, many of which are related to the Indy 500. All the original manuals are included, plus the special Corvette catalogs for the convertible. It also includes a factory shop manual and supplement, as well as a book on the pace cars themselves, which is invaluable for accuracy. We also have the original purchase order and delivery documents and a massive folder with every service receipt and invoice dating back to 1986, as well as a summary sheet showing when it was done. Wow! There’s also a collection of magazines and programs that showcase the yellow Indy pace car, an Indy 500 program from 1986, and a box full of Indy 500-related souvenirs and collectables, ranging from hats and models to a poster and a calendar. Finally, there’s a fitted car cover with its own storage bag. Impressive, no?

This is a heck of a lot of car for the money. You won’t find anything for less than $15,000 that goes faster or looks better, and this particular Corvette has led a very easy life with extremely detailed service records. Buy with confidence? You’d better believe it! Call today!