It's a Musicmaster Bass, a cheaper Mustang Bass, basically.
I got mine on Craigslist for $300. You can probably get one on ebay for $400-450.
That bass looks like it's in need of finish. The massive pickup is intriguing, though. But I say overpriced.
The bass is wonderful. It's a short-scale, and it has the following four short-comings:
1. Pickup. But it looks like that split humbucker should be adequate.
2. Two-saddle bridge. It can be intonated properly, but it needs a little work.
3. Wiring. There's a cap that's always engaged, but this is easily fixed with a pair of wire cutters.
4. Ever so slightly neck heavy. But really, I'm just nitpicking.
Here's mine:
