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I'm not sure how one could spend over 5,000 other than a collectable vintage bass. I have a custom 5 string fretless that cost 1800 from a friend, one built with another name on it it would have been around 3500. Wood is a big expense, cocabola caps over mahogany instead of a 3 piece slab of alder/Ash/poplar/basswood, 5-7 piece neck through body with ebony fretboard instead of one piece Maple bolt on neck, choice of string spacing, neck width and length, pickup selection, finish. Choice of finish, body shape, balance when sitting and standing, neck shape, lots of variables. My custom bass sounds and plays great, my old fender(78 g&l) plays great, sounds great too, (of course sound is subjective, both are very versatile if you know how to sound versatile). Is one better than the other? The custom bass was built by very likely a more accomplished and knowledgeable Craftsman, who also thinks the g&l is a very fine instrument. I would weigh in that it's apples and oranges if things like hardware and woods are all higher quality pieces. A custom instrument, custom anything is of course more expensive than off the shelf.