m5james: Given that in the UK items cost in pounds sterling what they cost in dollars in the rest of the world, that $11 k would be $18.6 k (at current exchange rates).

pmercer: Look for a used engine. Or, take it apart and find out if the valves did hit the pistons. I expect that they would in this case, but only an inspection will tell you for sure.

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2007 X3 3.0si, 6 MT, Premium, White

Retired:
2008 535i, 6 MT, M Sport, Premium, Space Grey
2003 X5 3.0 Steptronic, Premium, Titanium Silver
2002 325xi 5 MT, Steel Grey
2004 Z4 3.0 Premium, Sport, SMG, Maldives Blue