Ibanez GSR200 is the best value bass right now
Giving the cheap (but good) bass some love.
This bass is available in transparent red and a very cool looking soda blue. You can also find these sometimes in black or white, but those are currently all sold out. I consider that a blessing because the red and blue versions look so much better.
There are a few very specific reasons why this is the best value bass.
First, price. 200 bucks.
Second, the most versatile pickup layout, the P/J, which means a staggered single-coil in the middle and a straight single coil in the rear. This gives you pretty much any bass tone you're looking for.
Third, four control knobs and not just two.
Fourth, absolutely no neck dive. The top horn is above the 12th fret, which is proper.
Fifth - SURPRISE! - this is an active bass. There is a battery in the back. While this isn't necessarily a desired thing for guitar, it totally is when it comes to the bass. In particular, this can make running the bass through a PA or at home through a DI sound a whole lot nicer. Active pickups work best with clean tones, and being nearly all bassists play clean, believe me, you're going to get some great use out of this.
With that active pickup setup and all the other goodies, how could you not want one of these for just 200 bucks? All the upgrades have already been put in from the factory. Just plug in and go.