Contrary to what most of the posters have said here, refinishing a common highway jazz bass won't drop the value in half if the refinish is well done. Hell I've seen awfully relic'd highway series instruments going for only maybe a hundred or so less than their minty counterparts. The price of the instrument, if you decide to resell it, is determined by what people will pay for it.
Unless you, or a friend who'll do it for cheap, have experience doing this kinda stuff I'd avoid it. You'll probably have better luck putting it on craigslist asking someone if they'd rather have sunburst.
That said, its not SUPER hard to refinish a bass if you take your time and do your research. Especially if you're doing a solid color.
I have a 2006 Highway P-bass that I "refinished." The top coat with the color is actually very thin so you can strip your bass natural with some steel wool and 20 minutes worth of elbow grease. I was trying to get a "george porter jr" kind of vibe until I realized that the bass was kinda ugly. I then passed it around to some friends who started painting it with sharpie paint markers.
This is an old WIP, there's a bunch more stuff on it now.
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