T-40's are under valued.

Used T-40's often sell in guitar center for $450-$550 and on ebay some go for up to $375-$400. Still, I read about people thinking they're only worth $150-$200. What gives?

This USA made vintage bass is worth more than a used Squire. If you get a good deal, great, but realize you got it for less than it's worth!

If you are going to sell one and It's in great shape ask up to $500, Guitar Center does and they get it EVERYDAY. Think about it....

This bass, if new today, would sell for around $725 (If it was Fender it would be $1,200), so...given it's popularity and vintage status $200 is a give away and pretty silly when you think about it.

At that price, as a buyer go for it, but as a seller...what are you crazy?

Guitar Center buy's these off the street for $200-$250 and they buy for 1/2 what they'll sell it for. So keep this in mind when your trying to value your T-40!

While everything you said is true and the T-40 is a verry underated bass the key is "IF it said fender or Gibson" on the head stock it would bring more way more
for some unknown reason Peavey amps have always had respect while there guitars have always been thought of as the redheaded step child Id put my T-60 up agins any PRS or LP or Strta and if the right person was playing it would win hands down
Its just how it is I bought a bran new Maroon T 40 back in 1980 and played it in a souther gospel group for like 5 years it cost brand new right at $400 whil a new Fender was several hundred more