Absolutely its way cheaper.
I have very rarely found an item cheaper in nz, even when including shipping and taxes - 99% of my stuff comes from overseas, and I always shop around for best price both here and overseas.
If you divide up your purchases into sub $400 orders, you dont pay gst or customs duties either.
Of course that isn't always possible with very expensive single items.
What e36 items are you after, and I can point you in the right direction?