Phaeton-spotting

This was spotted by my pal P down in Ventura County, which is north of LA. Judging by the exhaust tips, it's a V8 (V8s have dual exhausts, W12s have quad). I can't tell what year it is because I can't see the rims. It looks like it's in decent shape, although I don't understand why people put AAA stickers on their bumpers.