Zeus:
This could be a DIY'er job, all except the paint job of course. A new OEM aftermarket left fender is $61USD from the link given below, and removing and replacing that piece is not that difficult of a job at all.
Give it a shot if you're looking to save a little $$$.
http://www.autobodypartsonline.com/cgi-bin/webc.cgi/st_main.html?catid=440&sid=77CBJv0VaEykCrM-52102312092.0e
Good luck in whatever you decide!
~Paul
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'91 300E, 206, miles