Best shops that I have heard of in Bay Area are Cavallino's in Palo Alto (can see the sign from 101, I think it's between Embarcadero and University on the 101 access road) and "The Works Auto Body" in Santa Clara.
Both of these shops are expensive, and there were a number of Ferraris at both places when I went around getting quotes for some damage a few years ago. Unfortunately I'm going on other folks opinions since I never ended up having work done, but I was impressed with both places when visiting.
KevinM said:
It will definately need to be painted. Additionally, a good body shop will need to blend the rear fenders to assure proper paint match. Make sure they use Glasurit paint and specialize in BMWs.