well, my first was a MIM p-bass, it was red with a white pick guard, it had a bad input jack, the neck was bowed like mad, it was almost unplayable, this was years ago, and it turned me off bass for a long time, then last october (so just over a year ago now) i borrowed a bass from my school, then got a crappy silvertone from walmart which actually played well after a good setup (i learned how to do setups on that bass, and how to change strings, and how to solder, and adjust my pups etc) but it sounded absolutely terrible (i think it was made out of old newspapers

....j/k). so i learned alot on it, but it was a piece of crap so i sold it after buying a shortscale P-bass copy from a local music store, and that bass is now covered in stickers, but it's well setup and it sounds pretty damn good, but it's not my main bass. my main bass now is a peavey millennium BXP-5 and i absolutely love it, and i could go on about it but the point of this post is that i sold my first bass, then sold my other first bass years later, and i haven't regretted selling either of them. although in retrospective i bet that i could make that fender play very nicely if i had it now. still, no regrets from me.