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Squier ?

That looks like a Squier Affinity Jazz Bass, probably from Indonesia. I have one of those that I paid $165 for and then replaced the pots and wiring for about 75 bucks more. It's a great little bass. That looks like a pretty good deal to me.
 
Somebody on one of the guitar forums researched the black-label "Fender Squier Series" instruments and the conclusion was, they were made from American bodies and necks, assembled in Mexico with cheaper hardware than the standard MIM models. I have a Tele from that series and I had to replace the bridge saddles which had corroded into non-adjustability, but the guitar plays and sounds great. I haven't played one of those basses, but based on my experience with the guitar, and a friend's experience with a Strat from that series, I would not hesitate to grab one if it came up for sale when I was looking for a bass. I think they are far and away the best bargain in all of the Fender universe.
 
like others have said, it's a fender squier series precision bass. Made from bodies made in the US and hardware/parts made from china that were assembled in mexico. I have had a squier series jazz bass for five years now, it was my first bass, and based on my experience I would say that this is an excellent bass.
 
Somebody on one of the guitar forums researched the black-label "Fender Squier Series" instruments and the conclusion was, they were made from American bodies and necks, assembled in Mexico with cheaper hardware than the standard MIM models.

I read that too, and iirc there was also a "Traditional Series" of the black label stuff, which was made with slightly better hardware and had no little Series decal at the end of the headstock, just the black label Fender decal.