It was commissioned by Ferrari as a gift for the former boss of Fiat.
What you're looking at here is the one and only Ferrari Testarossa Spider in the world. Commissioned by Ferrari and designed by the legendary Italian design house Pininfarina, this one-off Spider variant of the iconic Ferrari Testarossa was built as a special gift for Gianni Agnelli, who at the time was celebrating being the boss of Fiat for 20 years. Being the wealthiest man in Italy at the time, you're going to be want to be seen in something special on the road.
Ferrari wasn't building a Spider version of its flagship Testarossa supercar since convertibles weren't very popular at the time – so Agnelli had one commissioned just for him. The former Fiat boss received delivery of his unique Testarossa Spider in 1986, which featured a silver exterior with blue stripes and a matching dark blue interior. In case you're wondering why Agnelli didn't opt for a red Ferrari, "AG" is the periodic table's symbol for silver which also happens to be the first two letters of his last name. Even the prancing horse was finished in the same silver. Rather than simply remove the roof and leave the car unchanged, Ferrari strengthened the floor and fitted an electrically operated hoop to support the soft-top.
It was more technologically advanced than what meets the eye, too. Like the standard Testarossa, the car featured a five-speed manual transmission except this one had a button marked 'Valeo.' Pushing it would cause the clutch pedal to retract and change the gearbox into an automatic which was handy for Agnelli who was suffering from an old leg injury. The Ferrari Testarossa Spider was powered by the same 390-hp 5.0-liter flat-twelve engine as the coupe. This wasn't the only bespoke car in Agnelli's coveted collection, either - he also owned the world's only Lancia Delta Intergrale Spider and Fiat Multipla Spider.
According to Motor1, the Ferrari Testarossa Spider was sold at auction last year for over 1 million GBP ($1.3 million) with only 14,300 miles on the clock, so it was barely driven under Agnelli's ownership.