The front valance on many cars can be considered a wear item. That is, over time it'll see enough bumping and scraping that it'll have to be replaced. The front valance on the early V8 Vantage is one of them.
It's a thin, black plastic trim piece that runs through the bottom lip of the front bumper fascia. It's held in place with some screws, so it's easy to replace when the time comes.
This item is not heavy however it is very long, so shipping requires an oversized box.