I don't know how much it costs by itself but when I bought the set (4) it was ~$250 discounted from Morristown BMW (use the accessories forum). Changing it out is relatively simple. The rivets are easy to remove (and not reusable) by using a flathead screwdriver and twisting.
The tricky part is putting the rivets back in (new set of black rivets needed, for the rears, 2 white slide-ins are reusable but 4 black punch-ins have to be new - you'll see what I mean after you take out the old ones). Mine are actually only partially completed because I have yet to look into a rivet tool. If you want it done quick, have your dealer do it but it will cost ya labor charges of an hour at least. Realistically, only takes 15 mins to do 1 fender flare.
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'08 X5 3.0si - Alpine White / Saddle Brown interior
Specs: Sport Pkg, Premium Pkg, Tech Pkg, Comfort Access, Aero Kit, Style 433 staggered 20s on Conti DWS
Mods: Carbon 35 tint, LED angel eyes, GP Thunder 7500k fogs, H&R 20mm/25mm spacers, clear reflectors, gunsmoke-tinted taillights
Coded: Digital speedo, windows/sunroof/tailgate close via keyfob
X5 pics at Flickr
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