Hi Maxwell. Don’t want to put you off if you really fancy an E34, but it sounds like a very expensive proposition. If the engine is as worn as you suggest, you are looking at a minimum of £1000 to rebuild it. Add the same again for bodywork and paint, plus all sorts of ancillary bits and expenses. A decent, running and roadworthy car would be a better bet and lot cheaper. Perhaps I’m being pessimistic, but your description would put me off, unless it was a serious classic and had some real value.