I can't get rid of mine, for sentimental reasons, and because i KNOW i will regret it. It was my uncles, he got it from a pawn shop in the early 70s, as far as I can tell a near perfect copy of the Gibson EB-3, the differences being the neck joint is bolt-on rather than set neck, les-paul style pickup selector switch rather than the rotary, and the tuners are the same sealed tuners as so many of those 70s japanese copies you see.
I dont play it much, mainly due to it not really being my sound, I like more definition than mud ;P But it still looks and feels great, and sometimes it IS the sound I want, this bass just oozes classick rock, not to mention having 30+ year old flatwounds!
There is such a variety to 'first basses', ive seen kids with absolute crap like a bronco bass, or really nice ones like some rather fancy Ibanez basses. Its all a matter of sound and feel, and sometimes tastes change. Personally I try to hold onto as much as I can because I've seen far too many stories of 'the one i let slip away'