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Pick ups cost more than the bass!!

It depends on what you need. My 2011 Ibby SRA305 cost me less than $300 on a closeout. But I had a lot of outdoor gigs and gigs where we weren't too sure of how the house wiring was (the house sound man got shocked on the house board while we set up as he reached around to grab a plug) so I purposefully went with EMG 40 CS & DC and a EMG EXB all with plastic knobs to completely insulate and isolate myself. Yes, it almost doubled what I have in the bass, but it does what I want it to, feels and plays great, and it has many times over paid for itself.

If I am making money with the instrument that has an inherently good feel and tone, I don't have a problem upgrading any or all parts that will contribute to a gig sounding better, being more durable and increasing the safety factor of working with electrical equipment. If not, well, maybe or maybe not, depending on the deal I can get on parts.
 
The hunt for tone does not sympathise with bank accounts!!

I just bought a t-bird and have ordered thunderbuckers and nickel upgraded hardware which is ending up costing half of what the bass initially cost. Has the bass improved since stock? Yes. Haven't got the pickups yet but I've heard only good things. Does my wallet feel a little light? Yes. But

Tone!!
 
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Exactly. To follow up on my above post, after a gig last night, as we loaded out, the sound man played that night's rough mix off the digital board. I was quite pleased at the bass tone and slot in the mix. It had been awhile since I had a recording. Although, isolating the tracks, I was able to hear a couple of things I think I should stop posting and go work on now.
 
I dropped a set of Duncan 60's antiquity vintage RI pups in a $70.00 Squier MIK P bass. After a setup, rewire and sanded neck it sounds and plays good as any 70's P bass I have ever owned. In fact as good as any MIA P bass I have played or owned. Its my #1 now.
 
I once had an astronomy buddy who was firmly convinced that if your telescope did not cost more than your car your priorities were just wrong! Pickups have such a large impact on the tone of your bass that if you are really driven by tone then there is no reason at all why your pickups should cost less than your bass.
 
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I tend to not do that on a cheap bass as the result of those upgrades is often elusive and the added value on the re-sell is "$0". I feel bad anytime someone post a CL ad trying to sell a Squier for twice as much as the going price on the ground that "it has $300 of upgrades". The re-sell value equation works like this "used price of cheap instrument + $300 upgrades = used price of cheap instrument"
My advice is often "save your dough, be patient - or sell a kidney - and buy a decent instrument"
 
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Frenchy is correct about the price/value equation. I regularly buy shell instruments and upgrade the electronics, but even then I have to keep the numbers reasonable. I'll never be able to sell them for the investment, and I'll take an Al's Music Source preamp over an Audere when the instrument is $300 or under. If I'm playing corporate gigs at 4 and 5 star resorts then I'd invest in a high-dollar, pro grade instrument; bar gigs and tent gigs by the seaside get modified, low-grade beaters. One of my favorites is an Ibanez GSR-200 ($179 tops) with Dragonfire pickups ($25 ea) and an Al's Music Source preamp ($35). Feels good, sounds good, goes great with my Bootsy Collins Halloween costume ;)
 
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