At gigs, basses are tools. I usually pay around $500 per tool since a $500 tool gets the job done just fine. If a tool gets stolen or broken, I can buy a new one easily.
Well, yes, but the quality of the tool needs to fit the "job" as well. Now I've never even been to Carnegie Hall let alone been on the stage there with the seats full, but were that to happen, I somehow have the feeling I would not be playing one of my SX bar basses, my Ibbys, or even my G&L Tribute.

