Hagerty.com

1962 Alfa Romeo Giulietta SZ rises from the dead after 35 years in a basement


#1

Life often gets in the way of our beloved car dreams. We’ve uncovered enough stalled projects on Barn Find Hunter to know that even the best laid plans can get derailed, sometimes for decades. A car gets left in a garage, or in a barn, and suddenly enough time has passed that letting the project sit for months or years longer becomes an easy excuse.


This is a companion discussion topic for the original entry at https://www.hagerty.com/articles-videos/articles/2019/01/31/1962-alfa-romeo-giulietta-sz-found-in-basement

#2

The Alfas are something special for sure, all of them.
The 1962 Giulietta SZ in this article is spectacular.
I am lucky enough to have bought a new GTV1750 in 1970 that I still own. It has been was left in its winter storage space the past 12 years but this story has me motivated to get it on the road this coming summer.


#3

The SZ is/was a fantastic car. I owned #62 and #147 in the '70s. Both purchased for under $10,000. One of those cars you wished you’d never parted with. Although appearing quite exotic it was basically a Giulietta with a higher compression engine and Zagato coachwork. Very simple to maintain and competitive in vintage racing.
Attached are a couple photos showing the evolution of the SZ Coda Tonda (roundtail)(#147), to the Coda Tronca (Kamm tail)(#195) and finally the TZ (#84) that 2 friends and I had in Toronto at the same time. image ![image|690x293]


#4


#5

$600,000 dollars and it went to the government because there was no will??

Talk about not taking care of business before you die. Car collectors get your estate in order before the government does it for you.

Hey, Hagerty, how about providing some quality information about how a car collection could/should be managed as part of serious estate planing? Not just the drivel about donating show cars to museums, but what to do with piles of old iron that might have value and might not.

Information about how to divide a collection among family members? How to divide a collection when some members love the cars and others only want the money?


#6

That’s a very good point. How to do estate planning for your auto collection.
If you have a good relationship with your heirs you can transfer the titles to them while you are still alive. In Ontario there is no tax on a title transferred to immediate family. Doing it through a will can involve probate fees and in some areas inheritance taxes. When dividing cars among several heirs (children), you need to keep your will up to date because of ever changing values in vintage cars (like real estate) and you may need to re-jig who gets what, to keep the total inheritance to each in balance. It would make an interesting article for Hagerty to put together.


#7

OMG how awful and disturbing. Car collector’s, didn’t we buy these classics to enjoy? I have two daughters which I’ve told them my cars go to them! But now I married my third husband who also has cars and no children. Hagerty …yes, we need your advice and suggestions. This photo of this stunning Alfa being lifted to the street, makes me so sad for all the wasted miles and joy.
Suzanne


#8

I could not agree more about Hagerty providing some sound information on how to treat our beloved treasures upon our departure. I have several cars with value and no immediate family to pass them along to. Other than selling them (don’t want to think about that), what other options might there be for someones collection?


#9

I have to agree with the other comments in this list. Please provide some information on passing on the collections.

In my case, I have a small collection of motorcycles and related literature that already have gone up in value. That is not why I acquired the stuff in the first place, it was just stuff that I was interested in and still am. Still I would hate to see it just tossed because it was just an old original service manual, or other piece of literature, when in fact it is worth many $100s of dollars to collectors.

Same with the bikes, they have also increased in value and I doubt any of my family would have any idea as to how to take advantage of it.

Thanks

Dave G


#10

As a enthusiast/collector and estate planning attorney in Pennsylvania I cannot stress enough to clients, fellow collectors and friends to get their estate plan in order or at least begin thinking about how they want their heirs to inherit or charitable organizations to receive their assets. Vehicle collections are not unlike any other investment that can increase in value over ones lifetime and be left to heirs. Transfers prior to death to family or others can certainly save on inheritance taxes depending on your State law but there can be various reasons not to do so. As I have other collector friends and clients we have come up with varying plans for distribution of our beloved classics and antiques from a single vehicle to collections. Every situation is different. I’ve also seen the unfortunate ugly side in situations where these specific bequests are not addressed and the family infighting ensues! I am obviously biased but I agree this is an excellent topic for discussion/information in article form.
Chris M.


#11

As cmmurphyesq aptly said, consulting a qualified attorney for dispersal of YOUR collection is the best way to assure it goes where you want it. Unfortunately most collectors are the only one whose heart is involved in the collection. As an estate liquidator I too often see familes let it go only to fight over the resulting funds. That said how encouraging to see found vehicles such as the Alfa, returned to the road.
Have fun and keep driving…


#12

It is wise to have a living trust in order that spells everything out. I cannot stand the thought of a parasitic government stealing a car like this beautiful Alfa and getting 600,000 dollars for it only to spend it on typical government wasteful projects. I have both my vehicles in a living trust both will go to my grandson who is 12 at this time. He will be one happy lad when he inherits Grandpas 63 Split Window and a 57 T-Bird E Code to boot.


#13

For those who don’t have heirs to their collection please consider gifting them to the non-profit or charity of your choice. Many have programs set up for donation of vehicles and provide an excellent tax deduction that could dramatically offset estate taxes that might otherwise be incurred. A qualified estate planner is well worth it!