| If you love the neck then it can be repaired for less than the cost of a replacement neck. If you don't want to sink any money into repairs, just sand the area smooth and seal it with a little shellac. It looks like there is just enough room for the G-string to fret properly. Then you can save your $$ for your next bass.
If you choose to fix it, the best fix is to glue a matching piece of maple into place and sand flush. However, this takes considerable skill. As stated before, you can also use some sort of filler, in which case I would probably build up layers of superglue mixed with maple dust over a period of several days and then sand smooth. Both of these methods should really be done by a pro or the repair will look terrible. | 
