I'll pipe up because I'm still up, but about to get some sleep. Other more knowledgeable folks will chime in on this in due time. I'm currently searching for my first (sorta) upright bass.
As someone who bought (actually traded) to get a cheap Chinese bass a few years back, these deals turn out to be no good in the long run. The bass I got (Cremona) was a just green wood and strings. Never really played it. Warped and twisted from the get go. From what I've read here by searching the newbie links and general searches in the "basses" forums: When you add up all the raw materials and labor, it's just doesn't add up.
Believe me, I know how much this sucks. I still don't have an upright. I got shell-shocked after my last experience, and won't go there. Turned out I spent the money on a better BG, cabs, and a amp head. Anyway, check the links. Some people say get what you can just so you can play now. Others say it doesn't make sense to get something that will cause you to form bad habits or develope carpal tunnel problems; and then just cost you more in the long run. I've been eating my weight in Ramen noodles so I can save money fast. Always helps to chase them with a multi-vitamin
In any event, the bass will defintely need to be set-up properly; which may cost more than half of the current asking price.
Anyway, I'll shut up now and let someone with first hand knowledge of a decent working bass chime in.
Just my $0.02 Best of luck in your search and keep asking questions and reading. These guys know some stuff.