The Fender Mustang is the unsung hero of the Fender bass range. Everyone knows about its more celebrated siblings; the Jazz and the Precision. But not enough people know that this bass packs a huge punch. Don't be fooled by its diminutive size, this 30 inch short scale bass sounds every bit as mighty as a Precision bass.
I think this Justin Meldal-Johnsen signature is a modern day classic. It sits in the mix fantastically well, is easy on the hands, looks cool, and responds really well to effects (watch the end of the video for evidence).
Here's the man himself noodling on his.
Another great Mustang player to check out is Tina Weymouth from Talking Heads.
Here's a cool Reverb video breaking down her tone.
You can get this bass for under £1000 and whilst that's a lot of money, I reckon this gets you in the league of great sounding basses (especially for recording) at a fraction of the price of a vintage Fender.
For more gear lessons check out this page.