I couldn't really get detail on your seats in the picture. However, it looks as though the thread is gone, not that the leather is ripped. If I am right, why not strip the front upholstery and re-sew it. Even with some leather dye, that should save you a "wee" bit of money. You would probably save enough to fund some "Leatherique".

http://www.mbcoupes.com/repairarticles/leatherrepair/leatheriquetreatment.htm