When it comes to guitars, I personally believe that the cheapest guitar can sound good in the hands of a good player but I've been told that the bass is different in that respect.
No different. The most expensive of my current stable of gigging basses - all Cort B4FLs - cost me $250. The cheapest was $175. I have a Steinberger fretless that I love like no other inanimate object but is far too pricey to take out of the house these days, and hell yeah it's nicer, but I don't miss it and don't need it on stage.
To me a high priced bass is $800+
All that being said, this site will hit your reset button hard on what "expensive" is. If you want a Steinberger like mine that I just mentioned, be prepared to shell out 5 to 6 thousand dollars. Which is why it doesn't go to club gigs anymore.