No offense but I dont know anyone dumb enough to pay $750 for that piece of scrap NEW.
Im assuming its a SIQ Bmw piece and that why.
Anyway the prep (time) and paint will cost $100.
Fiberglass lips are a huge mistake in Buffalo. The environment and surfaces are not kind. You bump it once ans its right back where you started minus $$$ that you spent to fix and paint it.
To fix you cant just wrap around the break. That split will cause the wrap to break. You need to pour epoxy (I would use 3M Panel Bond) over the crack and put clamps on it to hold it together.
After it dries you grind down the area maybe 1/8" .
Then you can wrap it with cloth and resin.
The rough up surface and Bondo the shit out of it.
That is a LOT of work for a part that I will bet $500 you will crack again within a year.
Find a ABS or Urethane copy. (ebay maybe)