You don't need to buy a King bass yet, don't worry. But a good move in the long run (though it can take a LONG time to deliver ... up to 12 months!)
I'd be very cautious buying that white bass.
There's a chance it could be OK. But there's a bigger chance it's a piece of ****.
For a similar price / availability / ease of purchase, let me point you to the Strunal basses sold at Thomann.
http://www.thomann.de/gb/double_basses.html
Their model 'Kontrabass 1' is made by Strunal (as are the other more expensive ones.)
The blonde one is really nice ... i had this bass, only with ebony fingerboard and tailpiece for a bit more money. Very nice bass, beautifully made for the price, will last a lifetime.
http://www.thomann.de/gb/thomann_kon...1800063a2b0e49
The 'sunburst' and 'blueburst' models are also good basses made by Strunal. But the other really cheap ones ('rockabilly' '111' and the cutaway models) are not Strunal - I can't say how good they are, but likely to be Chinese made, where some of the nasty cheap basses come from. Some great basses also come from there too, if you pay a little more.
You can find much better basses than your white one for really good prices on e-bay, but you have to know what you're buying. People here, and over at rockabillybass.com are happy to help you though. Search double bass and see what comes up.
That white one would certainly take a bit of slapping, but you may never get a very good sound from it, and many people have had problems with similar basses falling apart after a year or so. Sorry to put you off. It MAY be fine, but it's a big risk.
PM me if you want any more help ... or pop over to rockabillybass.com
PS where are you? ... I wrote this figuring you were in Europe, but you're probably in the States. You can still get those Strunals in US, and also several similar / better models at similar price. But not from Thomann.