My 89 coupe has the big cladding and it is painted the same color as the car. I always get compliments. I think your car will look sharp if you do it. I believe you have to get the cladding and the clips. It's supposed to be an easy upgrade. Many people have done this. The dealer has a full diagram with an exploded view of all the moldings and clips. I saw it there on the computer screen when I was updating my W201 to a 16v. You could go there and have them print you copy. They print everything for me when I need something.

Your cars looks super clean. A set of lowering springs would really set if off especially with those nice wheels.
BTW What brand tail lights do you have?

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1989 300CE Astralsilber/Schwarz
1992 300CE Schwarz/Schwarz