This is a good point. I remember chatting with ATB about a 64 jazz and was offered it at £3k under the asking price, so there is wiggle room there.
Same happened when I bought a pre cbs precision from David Pym, he knocked off 20% for a deal. I don’t know about Andy Baxter, but the reputable dealers are all good guys trying to make a living and will do a deal.
I can’t explain the price rises, which are astronomical. It’s highly likely that those with vintage collections are buying more rather than new entrants to the market. When that’s the case, prices could fall rapidly…
While I struggle to see guitars as investments comparable with other assets, I’ve never lost money with a vintage Fender bass.