Are DAC prices reflecting sound quality?

Thanks for the insightful replies.

I guess at some point I'll have to make a decission about whether to spend $X on a new device or $X in "once SOTA" used device. And frankly I have no idea which way I'll be heading...even though I've been thinking about it for a while.

I actually think what we observe is in line with economics: it is supply and demand, but remember "perfect information", which is what we all lack here. If we could audition all options in our system at home, that would be perfect info and would know how much would need to be paid for a certain sound quality and, through competition, prices would self correct. Needless to say that's not the case!

I like to buy components and keep them for a long time, so I do as much research as I can prior to buying (auditioning is usually not posible where I am), then buy, and then tweak outside the component to get the most out of it. I don't need to be on the leading edge; just looking to get the most for the buck.

I love when components are well built...I guess it makes me feel it should sound good because of that...so I think a D70, a Wadia 27, Theta Gen.8, McIntosh MDA1000 all very well built, highly praised 4-5 years ago and can't help but wonder if the newer units at $2-3k can really overperform these in sonic enjoyment. Ah! just noticed I didn't tell you before, but I'm looking at DAC w/volume control to skip the preamp. Come to think about it, for that application the analog is key and the fast digital evolution isn't going on there (I think)...so maybe I am developing a point of view after all...

Sorry for the long ramblings. Talking about it helps me think it through, though.

Thanks for sharing your point of view!

Volume control?

Bare in mind too then, not all vol controls are created equally. Also, if a very nice preamp is added meaning one more item in the signal path controversy is at hand, a better sound might very well be had. A recent thread speaks about this here. Those with the better preamps felt the end result was better than the shorter signal path idea of DAC to amp. With active speakers one only needs a DAC, huh?

Shortest path is just the shortest (least expensive) one. Not necessarily the subjectively 'best' route.

Use reviews, past performance of the company's products, and core competencies as a point of departure.

I've bought two DAC's that way and have been very happy with the results. The first was a Bel Canto DAC 2 and the one I currently own, an Audio Mirror DAC 1 Signature (modified by TRL). Using the criteria I cited above, it has proved successful for me.

I now get to spend more (of my very limited time) enjoying my 2ch audio system.