I make it a habit of trading up. I rarely get rid of instruments without replacing them. I have the most sentimental attachment to my acoustic guitars. They have the most meaning to me. I have 5-6 of those that I will (hopefully) never get rid of- basically the top row of the picture below. The one in the middle will have to be buried with me. Perhaps instead of me.
I have two basses that I will never get rid of. One is the Brubaker in the pic. Another is a Brubaker fretless.
As far as electrics go, I will likely never get rid of the PRS and the Gibson in that pic. I have a Parker Fly that won’t leave me either.
So, of 20 instruments I own, I won’t get rid of about 10 of them. The others, I would only trade up. For instance, I have a Dingwall ABZ 5er that I love. I would not get rid of that, except for another Dingwall of better quality. I have a Lakland as well, that I just got, that I likely wouldn’t trade, except for another Lakland of similar quality, perhaps for a 5 string version.
When I get rid of something, it’s always to fund another purchase. Here’s how I made it from my first Squier to a Brubaker.
Squier- $150, sold for $200
Washburn XB500- $400, sold for $450
American STD Pbass- $400, sold for $600
Warwick FNA- $800, traded for EBMM Bongo $800 in trade value
EBMM Bongo- $800+$150, sold for $875 (I think)
Modulus Quantum Q5- $1000, sold for $1800 for fund Brubaker (post purchase)
Brubaker Xtreme 6- $3200
So, for a bass that costs about $8k new (I bought it used on here), I have in about:
$6900 - $4725 = $2175
Now, that’s quick math and that’s not entirely accurate because those first basses were in dollars from the 90s, so their cost was more in today’s dollars.
So I say all that to say, selling and throwing in a few hundred bucks each time makes a big difference. You should also tack on another couple hundred for shipping I probably didn’t account for in selling a couple of basses.
All of those basses except the Bongo and the Brubaker were pawn shop finds.
TL;DR- I like to trade up. I have some basses that mean a lot.