The short answer: I think that people like Fodera because of craftsmanship, looks, sound and playability, but also because the brand pedigree and because they want that "Fodera sound."
The long answer:
I owned a Monarch Deluxe shortly a few years ago and regret selling it everyday. I can't even remember why I sold it (probably gassing for something else. . . ). I've owned more than 120 basses in the past 15 years and I can say that Fodera is in the Top 5. The quality of woods and craftsmanship were second to none. The tone was very rich, multidimensional, with a lot of elements, piano-like, punchy. The bass I had had a Fodera preamp and Bartolini P/J - it sounded really close to a Victor Wooten bass but warmer. I paid $3000 for it and it was well used with plenty of nicks and dents. That bass today would cost around $9K, I believe (it was a deluxe with the dovetail neck joint, quilted top, ebony board, abalone blocks).
They are in many ways the ultimate bass in terms of beauty, quality, playability and sound. Although, I think that you can get the same quality, sound richness and playability from many other builders for about half the price of a Fodera, such as Smith, MTD, US Spector, Roscoe. (I don't mention Sadowsky because they are more of the ultimate Fender-type, which Fodera is far from.)
With Fodera you definitely are paying for the brand name because it's obvious that other established manufacturers can manage to sell bass as rich and luxurious as a Fodera for a fraction of the price.
Cons;
-Fodera usually have that compressed, dense sound that can be seen as the opposite of a vintage sound, so if you are a Fender purist, a Fodera might be useless to you.
-Average Fodera 5-strings are heavy. At Fodera they have a motto that is that "sound trumps weight," so their preferred sound formula and wood choice usually yields 10+ lb basses. Not for me, at any price. I'm guessing you can custom-order one with light woods, but I've never seen a stock 5-string Fodera anywhere that is under 9 lbs. Four-strings, although, general can be light. The one I had was 8.5 lb.
-Fodera usually don't do an arm cut on the body, which I find very uncomfortable. I'm used to those body-hugging Fender contours. But again, I'm guessing you can get that on a custom.
Fodera do hold their value pretty well, I'd say as much as vintage Fender in some cases, but I don't know about long, long term. It's not crazy to think that when Fodera founders pass on, the prices will go through the roof. But that's many years ahead. $7000 for that bass in question is not ridiculous, but not a deal either - that's a $9150 + option + 15% lefty upcharge, so I'd say about $11K. I woulnd't pay $100 for that particular bass because of the weight, but if given to me I'd gladly play it at home, or sitting down at gigs when I'm older.
