Thanks to the op for starting this thread, its a great dialogue that will play itself out over time for all of us to review in the future. Succinctly, the following observations may or may not be correlated to the topic. IF HEA is in decline, some of the points are at odds.
1) Some have stated that the prices of new gear is too high while others have stated that the prices of used gear is too low. These blanket statements ignore the Schiit Audio and Linear Tube Audio examples where Schiit gear is selling for sometimes 75% of new prices 5 years later and some LTA gear is selling for close to those numbers. What about Harbeth, their speakers seem to have a strong following in the used market. Schiit and LTA sell direct while Harbeth uses dealers as does McIntosh.
2) Statement pieces from many manufacturers depreciate rapidly in virtually all consumer product categories be it cars, tv’s, smartphones, hea, mountain bikes.
3) The poster who brought up acoustic pianos may be on to something when taken with another poster’s commentary about housing costs. When asked why he was introducing some high performance smallish speakers Dave Wilson answered “because space is expensive”.
4) I would even take that a step further as I work with several 20 and 30 somethings who earn well into six figure incomes. A common thread is they live within their means, drive reasonable autos, live in spaces that meet but don’t exceed their needs, are involved with the activities of their kids, they save money and invest in their future and they don’t don’t typically sit on their bum in front of their tv or stereo for hours. They get out, they are active, they are social, they care about the environment and by extension they monitor energy usage, they are involved in charitable endeavors and they enjoy being in the middle of it all. This is a demographic that would not accept a McMansion in the burbs if you gave it to them.
5) if the old adage of “the only cure for high prices are high prices” holds true on the new end of the market then “the only cure for low prices on the used end of the market would be low prices”. Demand will rise on the used end provided the gear in question meets their above lifestyle choices. That would mean in general, smaller footprints, lighter weights, etc.. My wifes mother was trying to give us a very fine piano and there wasn’t a moment’s hesitation before we said no thanks. Along those same lines, I don’t want any gear I can’t easily move around by myself and moreover, I won’t own a piece of high end gear that can’t be easily shipped to me or on to the next happy owner should my desires change.
In short, buying habits are different today, even among those of us who have been around the hobby a long time. None of the youngsters I work with are willing to overextend or stretch and they learned to be patient over the past 10-15 years while trying to start their careers during the boom-bust-boom economic cycle. HEA isnt dead, its just changing. While the smartphone as the entry level may not meet the standards of many on this this site, it is leaps and bounds better than the boomboxes so many in earlier generations began with.
In summary, look to the manufacturers who are producing products that innovate, carry a reasonable form factor, provide reliability and ease of use and make great music. And dont underestimate form factor, the generation coming into the sweet spot age wise are very mobile, they change jobs alot and move geographically alot. They will load up the Subaru at a moment’s notice and their stuff has to fit!
1) Some have stated that the prices of new gear is too high while others have stated that the prices of used gear is too low. These blanket statements ignore the Schiit Audio and Linear Tube Audio examples where Schiit gear is selling for sometimes 75% of new prices 5 years later and some LTA gear is selling for close to those numbers. What about Harbeth, their speakers seem to have a strong following in the used market. Schiit and LTA sell direct while Harbeth uses dealers as does McIntosh.
2) Statement pieces from many manufacturers depreciate rapidly in virtually all consumer product categories be it cars, tv’s, smartphones, hea, mountain bikes.
3) The poster who brought up acoustic pianos may be on to something when taken with another poster’s commentary about housing costs. When asked why he was introducing some high performance smallish speakers Dave Wilson answered “because space is expensive”.
4) I would even take that a step further as I work with several 20 and 30 somethings who earn well into six figure incomes. A common thread is they live within their means, drive reasonable autos, live in spaces that meet but don’t exceed their needs, are involved with the activities of their kids, they save money and invest in their future and they don’t don’t typically sit on their bum in front of their tv or stereo for hours. They get out, they are active, they are social, they care about the environment and by extension they monitor energy usage, they are involved in charitable endeavors and they enjoy being in the middle of it all. This is a demographic that would not accept a McMansion in the burbs if you gave it to them.
5) if the old adage of “the only cure for high prices are high prices” holds true on the new end of the market then “the only cure for low prices on the used end of the market would be low prices”. Demand will rise on the used end provided the gear in question meets their above lifestyle choices. That would mean in general, smaller footprints, lighter weights, etc.. My wifes mother was trying to give us a very fine piano and there wasn’t a moment’s hesitation before we said no thanks. Along those same lines, I don’t want any gear I can’t easily move around by myself and moreover, I won’t own a piece of high end gear that can’t be easily shipped to me or on to the next happy owner should my desires change.
In short, buying habits are different today, even among those of us who have been around the hobby a long time. None of the youngsters I work with are willing to overextend or stretch and they learned to be patient over the past 10-15 years while trying to start their careers during the boom-bust-boom economic cycle. HEA isnt dead, its just changing. While the smartphone as the entry level may not meet the standards of many on this this site, it is leaps and bounds better than the boomboxes so many in earlier generations began with.
In summary, look to the manufacturers who are producing products that innovate, carry a reasonable form factor, provide reliability and ease of use and make great music. And dont underestimate form factor, the generation coming into the sweet spot age wise are very mobile, they change jobs alot and move geographically alot. They will load up the Subaru at a moment’s notice and their stuff has to fit!