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Why are older basses "coveted"???

Pre-CBS Fenders (50s & 60s) were made from tree woods that may have dated from back around the turn of the century. Thus perhaps a sonic advantage over woods today which are from younger trees and kiln dried.

But, there's a mystic with old Fenders and they are very rare, thus collectable and harder to come by.

Thus.....$$$$$$$$$$$$

Because they were basically hand made, today's Custom Shop Fenders are more than likely better made!!

Like Frank Zappa said, "Shut up and play your guitar!" (Bass)
 
Well, if you’ve never held one, there’s nothing I can really tell you. Spend some quality time with one, like, more than just noodling in an instrument store.
It really depends on the instrument and the set up. Some are good, some are not. The 60s Strat I played once was one of the worst guitars I've ever played, but then the set up was very poor. Ok, my 1969 EKO acoustic was worse as it self destructed. My 1972 is better. But then I've had good and bad experiencee with instruments from every era.
 
I have a 2005 Lakland USA Joe Osborn bass. If memory serves, it was built for Joe--one of the early adopters of the Fender Jazz Bass. He wanted it to be just like that '61 (I believe there is some debate about this) he got from Fender. I've listened to interviews in which he said things like "It was a new instrument. I was a guitarist, so I played it with a pick. There wasn't anybody to tell us how to play it." He also said "They told me the bass should be felt, not heard. I want to be heard!"

So here I am with a bass made in 2005, meant to be just like one of the original ones from the early '60s. I'd put up a clip of some of his work, but I guarantee somebody will say "No, that was Carol Kaye." Me, I don't really care which of them played on what. They were both exploring this new Fender product at the same time.

So what is my point? There is a '61 Jazz for sale on Reverb for just under thirty thousand bucks. Mine would go for a WHOLE LOT less. I'd love to hear them played side by side.
 
Personally, I think old and vintage is more important in acoustic six string guitars and double basses than solid body basses. I've played several old Martins and Gibsons, even a D'Aquisto archtop (no double basses, though). They definitely sound richer than more modern guitars. I don't feel the same with the vintage solid body basses I've played. The ones I have played from the 60s and 70s seem to vary in weight, playability, and even tone. I have a great pbass made in 2011 and a jazz made in 2023 (both passive, both non-Fender). I wouldn't trade either for a vintage Fender. But, if you like the vintage instruments, then more power to you. Everyone has their likes and dislikes. It's what makes things so interesting.
I fell in love with a 1959 Gibson ES125 at a shop about 15 years ago. It had a big, loud, full archtop voice that was unmistakably its own. But, I didn't have the money at the time. Fast forward about 10 years. I picked up a Loar copy of that guitar, made in China in 2008 or so. It is a little beat up, but other than that, there's no way you would mistake it for a 1959 Gibson. Until you play it. It made me forget the ES125 that sent me down the archtop rabbit hole back when.

So, it depends.