These seem a bit pricey $$$

Since I'm retired and somewhat on a fixed income - price no mater, does not apply. Value is and actually, has always been important to me. Whether it's audio gear, automobiles, optics or other, to me, there are four parameters on which I base value. Quality of parts and workmanship; level and quality of intended performance; reliability and longevity - all in relation to price and cost of operation, comparison to the price and performance of other competing products. For those who place value on one of a kind or limited productions of anything - value would have a different standard. To each their own, but for me, at $12K, this speaker does not meet my particular standards of value.....Jim

What really astounds me is I receive real estate listings of homes in my area every day and after viewing about 400 homes, I have yet to see two speakers sitting in any room of a house.  They show pictures of expensive entertainment furniture with wide screen TV and no surround speakers.  Are people really satisfied with spending $5,000 or more on entertainment furniture and listening to TV speakers?  This seems strange to me.

No wonder why this industry is doing so poorly.  Who is buying stereo gear after looking at all of these listings?  People living in these homes priced $600,000 to $1.3 million could certainly afford to purchase a sound system.  People must be allergic to music!

In the meantime, stereo equipment manufactures do nothing to advertise their equipment and this entertainment platform.  Where are the direct mail pieces, where are the TV commercials.  Today, they can obtain very sophisticated mailing lists to narrow down their audience.  Once they get traction, they can expand their audience.  I wonder if any of them are doing any advertising other than stereo publications?  People subscribing to stereo publications already have interest.  However, what about those who are not aware of this entertainment platform?  Based on viewing over 400 homes, the numbers do not look good.

@eganmedia:  "Buyers like expensive equipment. An underpriced pair of speakers may well outperform a more expensive pair and suffer for it in the marketplace."  
@rksweet: "People spend hundreds of dollars on a bottle of wine."

Perception rules.  Back in the late 80s a company called PT Aqua Golden Mississippi decided to enter the bottled water market in Indonesia with a strategy to undercut the competition with the lowest price--after a year they had nearly zero market share.  They re-grouped, re-packaged and came out with the highest-priced bottled water and have never looked back--still #1 in market share!

They first listen to it.... Then decide the price. If it sounds great? Then the price can go way up. Some buyers assume that higher price means better sound.

Not all designers work that way. But, some do. Material wise it probably does not warrant the price. It can be marketing and greed in some cases.

I love Steve's reviews but these are a bit over the top for me anyway.  I can buy a lot of quality stereo gear for $12,000.  I trust my ears.