Buy a $40,000 used DAC for $4,000 or a new one for the same amount?


The advancements in DAC technology make them one of this hobby's most perishable products. But ... what if you can buy a 10 year old DAC for $4,000 that initially cost $40,000? Is it a bargain or waste of money compared to a new DAC that is $4,000? I understand it depends on the specific model etc. But in general, has the technology gotten that much better? And how quickly will the new DAC become outdated? Is it like computers? Past their prime about 3-4 years so you plan to replace them regularly? Thanks for all comments
mcmanus
Maybe it would be good to include Amps and speakers in this new verses old discussion although they will have separate analysis and answers. 
It’s a shame the data is already messed up by the time the transport is through with it. 😛
100% new  
  
10 years ago high end DAC chips were barely meeting CD specs (96dB of free distortion), nowadays they are at 120dB or better.  
 
 Since distortion gets compounded, the distortion from the DAC gets increased when paired with the preamp, increased again with the amp, and increased again with the speakers.