Thought it was a mid ''80s Testarossa at 1st. Grew up during the '80s and was a fan of the Magnum tv show. Magnum (Tom Selleck) drove a Testarossa in the show. After do'n some research I think the phantom ferrari is a late '80s Mondial Cabriolet.

http://en.wikipedia.org/wiki/Ferrari_Mondial


Here's the link to all the production models Ferrari made. Great for research.
http://en.wikipedia.org/wiki/List_of_Ferrari_road_cars