Buried Treasure: 1978 Pontiac Trans Am

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I have been asked many times whether I believe that the day will come when classic finds in sheds and barns will ever end. My answer is that I doubt it. There is no doubt that there are some models where the build totals were so low that the numbers will eventually slow to a trickle and then will dry up entirely. However, there are others where you can be sure that there will be fabulous finds for decades to come. Buried under all of these boxes and assorted junk is a car that proves this point. What you are looking at is a 1978 Pontiac Trans Am, and less hardy souls would look at the work involved in extracting it from hiding and would throw it in the too-hard basket. That would be their loss because this is a car that will spring a few surprises. It has been dragged out after decades of hibernation and has been listed for sale here on eBay. It is located in Henderson, Maryland, and has a BIN of $29,500. If that’s a bit rich for you, there is the option to make an offer.

The owner has pulled the Pontiac into the light of day and done little beyond giving it a quick wash and a thorough inspection. This reveals original Starlight Black paint that wears some scratches and chips but still presents well for a survivor-grade car. It would be interesting to see how it responded to some concerted work with a high-quality polish. The panels are straighter than you might expect after all of these years, but the big news revolves around rust. These Trans Ams could be prone to problems, but this has dodged a bullet on that front. The floors are said to be clean, and the susceptible areas like the rear frame rails, rear valance, and trunk floor all look good. The trunk is so nice that it still wears its original red oxide paint from the factory. There are no issues visible around the back window, and the lower extremities all seem to be clean. The body molding is missing off the driver’s door, but everything else is present. The glass shows no evidence of problems, while the Trans Am rolls on its original honeycomb wheels.

We now reach the point in proceedings where the buyer will probably have to spend some time and money. What we find under the hood is the 400ci V8 that would have been packing 220hp when new. The buyer will also receive a 3-speed automatic transmission, power steering, and power brakes. The Trans Am would have been a lively performer in a 1978 context and would have stormed the ¼ mile in 16 seconds. That might not sound that great, but for those of us who lived through this era, that was about as good as it got. See, the good old days weren’t necessarily as good as many people would care to remember. The Pontiac is a numbers-matching classic and is wearing only its second set of tires since new. That 400 hasn’t fired a shot since the Pontiac was parked in 1978, and the owner has not attempted to coax it back to life. That means that the buyer will be facing the “fun” of undertaking flushing the fuel system, replacing hoses and belts, and all of the other little tasks that would see the car returned to a roadworthy state. Still, it should be worth the effort because this classic has only accumulated 79,000 original miles on the clock. If it has been parked for as long as claimed, that sounds about right. Included in the sale is all of the original paperwork that came with the car from new, including the dealership’s documentation and receipts.

The Trans Am’s interior is upholstered in Carmine vinyl, and while it generally looks tidy, there are a few issues to be tackled. The headliner has been removed due to sagging, so a replacement will need to be sourced. That should chew up around $150, but it will help the presentation significantly. The cover on the driver’s seat has some tears, and I think these are beyond patching. It is possible to buy a pair of covers for the buckets, but the buyer might choose to replace all of the covers to maintain a uniform appearance. That will lighten the wallet by $550, but that looks like all they will need to spend. The rest of the interior is spotless, including the dash and pad. There is an aftermarket radio/cassette player fitted into the dash. Still, once the buyer has worked their way through the dealer documentation, they can choose to source the correct system specified on the Order Form to bring the interior back to stock appearance. There aren’t many luxury appointments inside the Pontiac, but it was ordered with air conditioning. The system remains complete, but it will undoubtedly need some work before it blows cold once again.

This 1978 Pontiac Trans Am probably won’t be the last one that will be unearthed in a shed or barn, but finding one that is this well-preserved and rust-free is a rare treat. I have always been open about my leaning towards anything that wears a blue-oval badge, but there has always been that indefinable something about the Trans Am that makes me like them. It seems that I’m not alone in this because values have been increasing slowly but steadily in recent years. Locating barn finds like this classic is a bit like catching a bus or a train. If you miss out on this one, there will be another one that will come along eventually. It will just be a matter of how long you are willing to wait for that particular “bus.” Will you wait, or will you grab this one while you can?

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Comments

  1. Jim

    $2,950 would still be pushing it. What in the world is going on with car prices? Awesome find, would be a good jumping off point for a project, however it’s been priced right back into his garage.

    Like 11
  2. Steve R

    It’s nice, but for the asking price I’d hold out for one that had less miles, better upholstery, more options and didn’t have so many scratches in the paint.

    Steve R

    Like 17
    • Skorzeny

      You’d think if it was worth that much to him, he wouldn’t have treated it like a dumpster. Pass. Find a 4 speed for better money…

      Like 16
      • Steve R

        Who? The owner parked it in 1988 and has nothing to do with this ad or the flipper that’s selling it?

        Steve R

        Like 5
    • Gary James Lehman

      Steve R–so you’d order one from the used car factory?

      Like 0
  3. Ike Onick

    I doubt very much that is buried treasure.

    Like 3
  4. george mattar

    About $20,000 too much. Pontiac built tens of thousands of these. This was about a $7,000 car in 1978. I remember drooling over them new at Dix Pontiac in State College, Pa, while a student at PSU. Broke and driving a 68 Plymouth, I wanted one badly, but never got one. As mentioned here, what is going on with car prices, especially cars that need work.

    Like 8
    • Steve R

      Don’t read too much into asking prices, out of touch sellers are nothing new and will never go away. Nobody knows what these cars eventually sell for. Patient and persistent buyers that put in the time and effort don’t generally buy cars from the same sources this site draws from.

      Steve R

      Like 8
  5. Dean

    I wonder what albums are leaning off the cooler?

    Like 2
  6. MJF

    I think he is trying to peel you off the ceiling on the Price!!

    Like 1
  7. Steve Clinton

    Why on earth would the seller use that lead-off photo? Is he trying to subtly tell possible buyers something?

    Like 1
    • Dave Mazz

      Based on the photos that follow, maybe the seller wants you to know that he may miss the mark when it comes to car pricing, but he’s pretty handy at garage clean-up.

      Like 0
  8. Michael Freeman Michael FreemanMember

    Bought one brand new in 77. Had every single option on it you could get and I paid $7200 + tax. I always wanted it back and passed on mines twin a few years ago(nice car) at $14,500. He’s way off on this one. Maybe 5000(to me anyway) if she runs and drives. At least they didn’t ruin it by putting in those Hurst T-Tops.

    Like 1
    • Motorcityman

      U can get a running one for 5k, but it wont be running well, and lots of rust,and no passenger seat and partial interior, tranny leaking like no tomorrow, body dents ect……u get the picture.

      Like 3
  9. Motorcityman

    I had a special edition black and gold 78 around 2000 paid $3,500.
    Sold it a year later for $7,500
    He sold it about 5 years later for $15,000……its worth AT LEAST $25,000 now…….price on this one isn’t far off.

    Like 2
  10. ACZ

    Does it come with about 100 pounds of what the seller was smoking when he decided on the price?

    Like 2
    • Motorcityman

      I bet it’ll sell for at least 20K Very popular!

      Like 2
  11. Hemidavey

    Who else wants to smack the dufus that drilled a hole in the front fender for alarm switch? Me first!

    Like 2
  12. Hemidavey

    Check out that interest rate on the loan…OUCH

    Like 0
    • Steve R

      They got a lot worse for several years after that. It probably would have been double that if they had bad credit. In the mid-80’s I had a friend with bad credit paying an interest rate on a car loan that was close to 25%.

      Steve R

      Like 3
      • Motorcityman

        Yep, par for the course.
        I had a BK back in 1992, my first car loan was 24%, common if u have bad credit. My second one a couple years later was about 15%, takes awhile to get a decent rate again.
        Those places that have guaranteed financing dont tell u right away they need almost half down and interest will be very high.

        Like 0
  13. Motorcityman

    Some of u dont seem to know the price of these 70’s TAs, even the smog choked late 70’s has shot WAY up!

    Like 0
    • mjf

      I have not seen a bid yet…
      Maybe closer to the end

      Like 0
      • Motorcityman

        Not a bidding sale but u can make a offer.
        Its complete in Good condition.
        U can drive it as is and have a lot of fun at local car shows.
        New paint and freshen up the interior and clean the motor and u have a show car……if I had 20K id pay that….maybe a little more, only going up in price.

        Like 1
  14. Joe know

    In picture number 5 if you zoom in you can see the reflection of a early 196? blue Ford Mustang. I would go for both at that price also looks like a staged first pic.

    Like 0
    • Steve Clinton

      Enlighten me; why would they stage that pic?

      Like 0

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