Warning Hazard Lights on Dash E36

[AK87]

Hi all,

I've got a 1999 318is Sport. The problem i've got with it is there's warning lights up on the dash. The airbag light is on 100% of the time (the previous seller said he got a quote and was told its just a faulty light and will cost $2,500 to fix). Also the stability control & ABS lights come and go randomly, both are on at the same time or not at all, never one or the other.
Any ideas on these? I was trying to sell the car for a while but have now decided to keep it, this issue was scaring off buyers something shocking.
Is it really that expensive to fix a few faulty lights?

I'll provide the link below of a photo of the dash. Any help anyone can provide is greatly appreciated. Thanks

http://i18.photobucket.com/albums/b1...os/BMW/BMW.jpg

[drbollox]

I normally offend when i do this so apologies in advance but anyway....
I thinks thats 3 of your major warning lights, ABS, Traction Control/Transmission and your SRS (airbag), It would scare me off too seeing your ABS and Airbag system MUST be functioning correctly to pass annual registration in NSW, Anywho take it to a mechanic ask them to scan it (they will charge you{I Do}) And then you will know what it REALLY is, ask for the codes themselves or a print out if they can't do that for $100 or less just go to the guy next door who will.
ABS could be something as simple as wheel sensor.
$2500 for the Airbag sounds like the airbag itself But it could just be a clock spring and the other mechanic was being enthusiastic.
The gearbox could be anything could just be low on oil or related to the ABS (most likley)
WHO KNOWS, GET IT SCANNED before your gearbox blows up.