So my guild and I waddled our way into Terrace this week to kill Sha of Fear with several of us on the final quest to obtain a Chimera of Fear from the big bad himself. Naturally, with master looter and auto loot on, our GM right clicked on the dead boss's body to look at the loot and he immediately received the Chimera of Fear. Seconds later, we all realized that no one else could get this quest item. After a bit we figured out what happened: there is only ONE quest item that drops and it is non-trade-able, so be very careful who loots the boss. On top of that, you can throw any expectation of getting it for your entire raid out the window.
Edit: Confirmed fixed on EU realms at least, no confirmation from NA region.