if its newer, yeah i sold an MIM P-bass with a gig bag (bass was from 2000) with seymour duncans in it for 175...
Would you believe Music123.com was once blowing out mexi Jazz basses for $199 new! I could shoot myself for not buying up a bunch and reselling them. Your question I think depends on whether or not the mexi bass is one of the "updated" models they started making in 2001 or 2002. The newer ones are better basses. But at that price, I guess even the older ones would be a pretty good deal. Search ebay's completed items to get an idea of what they're going for.
I'd say it's a fair price. I got mine (99 or 00, can't remember) for $200 flat. You can usually find them for about that price ($200-300).