Sure it does..
How much depends on the thickness of the coat on neck and body.. However.. if your afraid of loosing any tone by removing the finish.. your worrying 4 no reason.. tone just gets "better" without it.. (imo).. Ive added paind and finish to a fretless bass.. both neck, fretboard and body.. It whent from warm, deap and loud sounding (unplugged) to bright, sterile but still loud.. ofcourse that depends on woods, finishes and so on.. plugged in the differens was noticable.. but not as great...
Do I regret doing it..
no.. 
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/Liten - Basses: 1978 Fender "MIA" Jazz bass, Japanese P-bass and JBV Fretless. Amp/Cab: Aguilar DB750, Aguilar DB115 + DB210. Pedals: Korg, EHX, Moollon, Barge etc.
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