New-In-the-Wrapper 1978 Mercury Grand Marquis Is Today's Bring a Trailer Find

• In the summer of 1978, downsizing loomed for Ford and Chrysler's full-size cars, leading some buyers to invest in what were widely (and correctly) viewed as the last of Detroit's truly huge land yachts.
• Built at the end of the model run, this Mercury was purchased new by a dealer principal and stashed away. It's been in private collections ever since.
• Now showing less than 200 miles, it presents as new, a time warp to the bigger-is-better era.

A malaise-era time capsule of land yacht life, this 153-mile 1978 Mercury Grand Marquis has been stored in private collections since arriving at a now-shuttered Ohio Lincoln-Mercury store around the time Frankie Valli's Grease topped the charts. In all this time, it's been driven no more than four miles a year. It's a brand-new 46-year-old car, and they definitely don't make them like this anymore.

1978 Mercury Grand Marquis

This disco-era dreadnought is now up for auction on Bring A Trailer (which, like Car and Driver, is part of Hearst Autos) after a recent recommissioning to roadworthy condition. Like all ultra-low mileage cars, it poses many questions. Would you drive it or keep it in time-warp condition? What motivates somebody to sock away a car like this in the first place? The former is up to the buyer, but the latter is easier to explain. The same kind of nostalgia for a recently departed era that inspired Grease probably played a part.

1978 Mercury Grand Marquis

By the time this car rolled off the line at Ford's Saint Louis factory in June of 1978, every Ford and Mercury dealer knew downsizing was upon them. General Motors had downsized its full-size cars for the 1977 model year, and Ford was finally ready to respond with what we know now as the "Panther" cars that fall. Chrysler's beleaguered stores were in the same boat. As early as June, some dealers were advertising their LTDs, Marquis, and New Yorkers as "the last of the big ones."

How big? This Grand Marquis measures 229 inches from stem to stern, uses a 460 cubic-inch V-8, and weighs 4400 pounds. That's almost light compared to today's 5900-pound BMW i7, but it was heavy metal back then. Already bigger than its predecessor when this generation of full-size Mercury was introduced in 1973, the car's length and bulk were gradually accentuated by impact bumpers and Brougham-tastic styling flourishes. The Grand Marquis itself was introduced in 1975 as a new flagship for the brand as mainstream cars tried to outdo themselves with "near luxury" accoutrements.

1978 Mercury Grand Marquis

In a post-OPEC world of Corporate Average Fuel Economy (CAFE) regulations, it was clear that cars like this were on their way out and would likely never return—all the more reason to buy one as a potential investment.

The advertising undoubtedly tempted some buyers into buying a big boat before the shipyard closed, but it's hard to understate how popular these cars were in the 1970s, even after OPEC. This Ford LTD/Mercury Marquis generation is Ford's second-best-selling car platform ever, behind only the Model T. Including the Mercury and Lincoln Continental derivatives, more than 7.8 million were made.

Nearly as lush as the Lincoln Continental on the other side of the showroom, the 1978 Grand Marquis sat at the top of the Mercury lineup and had its best year yet with over 53,000 sold, roughly three times the 1975 tally.

1978 Mercury Grand Marquis

The original selling dealership, Ron Rush Lincoln-Mercury, likely ordered this particular car in its unusual configuration, including a $132 leather delete option, leaving it with that oh-so-'70s velour and cut pile carpet, all dove grey to match the exterior. It had almost $2000 in options, including air conditioning, an 8-track Quadrasonic stereo, and the big 460 V-8 (a 400-cid unit was standard), though sadly not the rare de Sade package. The car wears an emblem from another dealer, Indiana's Tom Roush Ford, but it's unclear how that happened.

1978 Mercury Grand Marquis

Despite its size, the emissions-strangled 460 made only 202 horsepower, though it did have enough torque (348 pound-feet) to tow a 7000-pound trailer. Of course, cars like this are all about wafting along in comfort, but would you drive it?

Yes, it's roadworthy, although any 46-year-old vehicle with delivery mileage might hide age-related skeletons that might not shake loose until you drive it a ways. Like humans, cars need regular exercise to stay truly healthy.

Of course, there's also the key question that haunts all ultra-low-mileage cars: Would you want to use it, given that its low-mileage rarity is part of what makes it valuable? Cars are made for enjoying, though this big guy would also make a very indulgent sculpture that you use very sparingly.

If you want to set sail with the last of the big ones, the auction ends on July 2.