So I’ve played bass guitar since high school in a number of different bands and genres and I’m 44 now. About 8 years ago I got divorced and decided I needed to raise my son who at the time was 4 years old. I really haven’t touched any of my gear in a few years. I don’t have high end stuff but I worked hard to pay for it but have been thinking about selling it off since I don’t see me or my son picking it up anytime soon. I struggle because I don’t see me getting decent money out because used gear just doesn’t seem to have much value. And honestly I don’t really know what fair price is for what I have. So here is the “big hitters” of what I got so should it stay or go and how much what says you

Fender jazz bass 4 string MIM
Fender jazz bass 5 string MIM
Alvarez 6 string
Peavey TKO 115 combo
Carvin BX500 amp
Carvin BX1500 amp
Carvin cabinet with one 15” speaker
Carvin cabinet with four 10” speakers
Univox cabinet with two 18” speakers
Univox UB250 amp
Line 6 wireless G30
Plus a cheapo Peavey drum set and 2 cheap fender squire electric guitars

This is just my opinion, so take it for what it's worth...  If you don't absolutely need the money, don't sell it.  From your post I would make that assumption that your son is now 12 years old.  Sounds like a great opportunity to start introducing your son to the wonderful world of music!  Seriously, it is a part of your history and if he is into it or is showing any interest at all I would hang on to the gear.  My son has inherited a lot of gear from my father (who was a musician) and over the past 4 years he as absolutely dove head first into it.  He is 17 now and played a gig on New Years Eve - one of my best experiences in my life so far has been watching my boy up on stage doing his thing.

Good luck with whatever you decide to do!

You know what happens as soon as you get rid of something you wait a month and some huge need for that very item arises.  But if you need the money part with what you would be least likely to use.  Anything that could make you money down the road using it you really should keep because as your son gets older you might have the time to do more with it.  Busy now but when he is in High School or College you will have more time.

Keep it

I sold off a Gibson Les Paul Custom and a JCM 800, along with some other stuff, 6-7 years ago I wish I still had.

Sell off one amp, cabinet and one of the squiers and see how you feel about it. That still leaves you with a bunch of gear.

Start playing again, even if it's just a few minutes  here and there. Because you never know, it might spark your son's interest.

I regret selling equipment I had in the past.  After I sold off all my gear I went a long time before I had that urge to pick it up again. Replacement costs went through the roof for what I had so now I'm slowly getting a collection again and every so often checking vintage guitar sites and making myself sick at the current prices.  When you get the motivation to pick it up again it will be waiting for you and the best part is it will all be paid for

I almost sold off my 1984 JCM800 50w years ago.

Thank God my wife is smarter than me, and wouldn't let me do it. I wasn't really playing, and had lost my desire. Now it's back with a vengeance, and I', glad I still have some of that older stuff.

I learned not to sell off hobbies.  Inevitably I get back into them and have to re-buy the crap all over again.