You Are There 1984: Gray Market Cars

Here is an article from the January 1984 issue of Der Bayerische that gives some insight into what gray market cars of the time had to go through to get legally registered in the US.  It does indicate, btw, that the cost of 'federalizing' a gray market car was in the $5000+ range. That was a significant add-on to the cost of the car at the time.
http://db.nccbmwcca.org/1984/1984_0102.pdf