I currently have 3 basses. 3 different price ranges. One was like $450 new, another like $700, and my newest is about $1,350 new.
The cheapest is odd in that it has passive p/j pups with active 3 band EQ. It puts out a weaker signal obviously, but it sounds awesome recorded, looks good enough, and is pretty light. It is painted because it is lower grade wood. It is my only current 4 string.
My middle $ bass has "better" EMG active pick-ups and a 3 mid selector switch and 3 band EQ. More electronics. A little prettier than the cheapest bass and is stained wood satin finish. It is a 5 string and I didn't give it much of a chance at first. I mean it really sounded good, but I never spent a minute setting it up and therefore played it less than my 4 string for quite a while. The action in the upper register just wasn't good when I bought it and I literally never made any adjustments like a moron.
The newest 5 string I believe has more tone options than any bass ever produced. It is the first bass with Fishman active pups. 3 way selector for mids with different sophisticated scooping, 2 band EQ with boost and cut, and also a pullup volume pot that takes the humbuckers to single coils and you can start over all again with the tone options. It's almost too much to comprehend at first, but very fun. It has the best veneer, high gloss finish, most quality finish, higher end parts all the way around.
After I got my new amp, I started tweaking with my mid-expensive bass and finally set it up properly. Now it is a joy to play as well.
I love all 3 regardless of the price, but if I could only have 2, I'd probably sell my mid priced bass being a redundant 5 string with a little less flash, but no slouch in the tone department at all, but I love the way it sings to be honest and it is so light. If only 1, tough call. My cheaper bass is still really nice, a blast to play, and just sounds so good, especially recorded and it is the first new bass I ever owned so sentimental value would be hard to ignore. I played a lot of really cheap crappy used basses before I finally bought that one.