It may very well be a refinished bass. Jetglo's don't normally come with red "primer"; that may be the main reason why the black finish is coming off in such big pieces. Personally, I would peel as much off as I could, so it doesn't come off on stage, and just play the snot out of it. Also, start saving up to have it refinished right - or do it yourself. I have a beat up Rick 330 Fireglo that will soon be a lefty Mapleburst, once I get all the stuff I need from ReRanch. Ricks arent' really any harder to refinish than anything else; people do it all the time.