It's getting pumped Tommy Cogbill's 1966 P-Bass Up For Auction
I'm really split - don't want to see something like this misrepresented and would like to see the family get as much as they reasonably can.
It's more than likely a bass owned by Tommy Cogbill.
We have no photographic evidence that it was played on Aretha Franklin nor Elvis sessions.
There's photographic evidence that other basses were used on those recordings.
Studio musician guitars are really a mixed bag. Many times they just aren't famous enough to draw premium prices.
For example, Eddie Willis' Gibson Firebird which actually was used on many of the Motown hits with Eddie being alive at the time, sold for around $12K in 2012.