Great sounding Kays like this one often command high prices. This one is inexpensive for one reason alone: the condition of the non-original varnish, reminds me of an alligator.
First the strong points of this bass: Thicker than usual ebony fingerboard which I have just dressed for a very accurate and highly playable feel. It has that classic Kay punchy, meaty sound favored by generations of working American bassists throughout its entire range. I just made a new custom made bridge with adjusters from a French made Despiau bridge blank and it has D'adarrio hybrid strings. The original Kay endpin has been replaced by a high quality ULSA German made endpin.
About the general condition: The neck has never been broken at the heel or by the pegbox, although there is evidence of a repaired split parallel to the fingerboard that must have been caused by careless removal of original fingerboard, we do get the benefit of much thicker ebony than Kay ever would have used. All in all, appearances aside, there's moderate edge wear and one small chip out of the back veneer.
A great players instrument!