I'm in the group that prefers high-end instruments, some over $4k. Some typical improvements over production instruments:
- Fretwork
- Materials
- Construction
- Fit and finish
- Customer support
- Options for customization: fingerboard/body wood, figured woods, custom electronics, custom paint/finish, etc
A high dollar custom doesn't
guarantee better wood selection (etc), but it gives you a much better chance of having a superior instrument.
OTOH, I'm the first to say that nobody
needs a $1000+ bass (unless they have a special need such as 8 or more strings). I've seen many street artists and some touring pros absolutely kill on low end imports. James Jamerson did his thing on a stock P-bass with old flatwounds, and he could also have done it on an MIM P-bass set up the same way. Unless the tool is so bad that it hinders performance, the player will always be the far more important factor.
I'm just an average weekend warrior. I don't
need my fancy boutiques (or any of the advantages they provide), but I do
want them, and can afford them, so that's reason enough.