If you want it done right, take it to a leather repair shop. They won't charge you more than $25 and it'll match and look good longer than anything you can do.

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Mr. BILL

91 300E 120K
90 300SE 275K (sold)
92 BMW 525iM 120K
90 BMW 525iA 175K
85 300D 175K (sold)
84 300SD 245K (sold)