What's going on with the audio market?

Jond, good luck with that.

I think more people started to go buy cheaper but VERY good sounding stuff. For example, the new tiny Class D amps sound awesome. You would probably think "nah" when you read this but it is REALLY good. No, it does not sound as good as an $5K Class A and/or tube amp but it is darn close.

https://forum.audiogon.com/discussions/if-a-gear-is-dirt-cheap-do-you-think-it-is-no-good/post?posti...

The hobby is fragmented into many different segments. If I can use a car analogy for a sec, there are the antiquarian types (think vintage Bugatti, pre-war, similar to the WE horn crowd); the high dollar bling- modern Ferrari, Lambo whatever (give me a vintage one); the bang for the buck crowd-monster performance for the dollar from some Japanese tweaker cars or hell, even a modern Corvette. And a sort of middle ground that captures old school, plus high performance/vaiue ratio- e.g. later air cooled 911s that have had some wrench turning done. There is every conceivable flavor, following and "school of" under the sun; I think the same is true in hi-fi. I don't think the hobby, in any of its forms will expire-there are still folks who are avid about 78s. All of it can be embraced--(I don't do 78s, it's too much at this point, I buy later transcriptions on 33). But, who would have predicted all the big ticket vinyl stuff- that's not the so-called millennial crowd. I firmly believe that you can buy something of value that will last a long time and give you great pleasure. A lot of the turnover in hi-fi was the "upgrade" and for some segment it still may be- those who are still building a system or those who just like changing gear. There's room for all of it. I think this stuff will be here long after even the youngest of us are gone, but if I'm wrong, I guess I won't know, will I? 

Many have referenced the middle class and diminished discretionary spend. Was the middle class ever buying $1k cables, $5k preamps, $10k speakers? I'm not sure. These components and speakers are nice to haves, not need to haves. 

I see a lot of mention on threads where members are qualifying their posts by stating their profession or education (engineers, etc.) Is there a slight correlation between this demographic and the decline of these disciplines domestically? 

I do not have this type of background but I am a music lover first and I'm a definite tweaker so somehow this all works for me.

i look at the top end of products in this hobby how stereophile covers them and I feel the same about Motor Trend..great Cars that I'll never own, but I can find something that works for me..

I guess my view is that we are in the midst of a transition -- a healthy but ultimately very destructive transition. Overall the demand for and supply of new gear is healthy, especially at the very high end ($10K and up up up). Just a quick look at the new launches (turntables from Boulder, a new high price for a table, new reel to reel players etc.) in the past month as evidence.

At the same time your high street dealer and the low/mid end is vanishing, blown away by internet selling. High end dealers that operate nationally/internationally seem to be holding on with even some new ones opening (case in point Audio Salon in Santa Monica)

So in some ways audio is becoming like furniture -- there's a mass cheap market and often of excellent quality and a bewildering and extensive top end. But precious little in the middle. Maybe we need a hi-fi version of Restoration Hardware -- perhaps what Fine Sounds are trying to do with their World of McIntosh stores? The downside of this -- have you ever seen the resale value of furniture? You're lucky if you can get 20cents on the dollar, also the lead times for high end furniture often run to six months or more -- this is something we are seeing with many of the boutique manufacturers as well

So looking ahead I think this is a great time to be spending time on AudioGon -- there will be lots of very attractive high end stuff available at knock down prices, and lots of high end technology trickling down the lines. Things look less good if you are a) a mass market dealer trying to make a living or b) someone who cannot afford to take a depreciation loss on buying new