The "brown mahogany" finsh was some industrial version of Minwax Polyshades, which is just stain suspended in polyurethane. The stain never sinks into the wood, so any chip goes right back to bare wood. I have some cheap furniture with a similar finish, it's quick and easy to apply in a factory setting in one shot, but it chips easily. It was more or less universal on the SR500's, every used one you see on Ebay or Reverb is worn through where the players thumb touches the body, or other "sweet spots". It's a shame, beacause the SR500 is otherwise a superb bass. I don't know if they are still using the same finish on newer basses, but unless you can find out definitively, I'd avoid any "brown" mahogany finish basses from Ibanez. I've always wanted to get one of the used SR500 and strip it down for a complete refin in something easily repairable like Tru Oil, they are great players.
