It sounds like it's a guy's widow selling the bass...she probably had it appraised somewhere and was given that ridiculous number. Also, I don't know much about vintage Fender basses (not my thing), but it appears that Leo Fender retrofit a regular Fender electric to make it a 6-string bass. The headstock and tuning keys look suspiciously non-bass-guitar. Also, I have no idea what the string-spacing is, but the neck appears extremely narrow. I get the feeling that the oddball-antique nature of this thing is the whole selling strategy.
A typical bass player will just buy a new 6-string bass, to take advantage of the wonderful technology that has come along in the last 50 years. This guitar is most definitely NOT for everyone!