Resale value

Nope. 

Everything I buy is my "absolute last" amp, speaker, whatnot...

Damn this site!

cleeds,

I’m sorry that you didn’t agree with my analogy between the stock market and used audio equipment, but not agreeing with it doesn’t make it wrong. The stock exchanges don’t "ensure" liquidity, they simply facilitate it (very much like Audiogon). Whether audio equipment is an investment or an expense depends on your perspective. Thanks for letting me know yours.

I buy a piece of gear to address a need in the system and replace what was once the weak link.  So I try to choose carefully.  The last thing I think about is resale value as that would imply I most likely would upgrade to something else down the road. 

This was my thinking years ago when I bought gear to just try a new flavor.

At this point in my life my goal is to get off the dreaded upgrade spiral.

No. I buy to own. Not into musical chairs. Listening to all kinds of great music is the goal and journey - audio gear is just a means to and end.

tonykay

The stock exchanges don’t "ensure" liquidity, they simply facilitate it (very much like Audiogon). Whether audio equipment is an investment or an expense depends on your perspective.

Sorry, but you're completely mistaken. The major stock exchanges most certainly do ensure liquidity - that's the specific function of the "market makers" who work the trading floors. A major stock exchange has nothing in common with the role Audiogon plays.

As for audio equipment being an investment, it isn't in the traditional sense. Certainly, one can argue that the enjoyment of music is the "yield on investment" from audio purchases, and I wouldn't argue with that. But my 401K doesn't include any audio equipment, and I'd wager yours doesn't, either. And the return on my retirement funds - which is positive - surpasses by far the financial return on my audio equipment - which is negative.