DAC Choices - $5,000 to $7,000


What are the current top DAC choices in the approximately $5-$7K price range (new or used) that I should look at as possible upgrades to my current Metrum Adagio?  Having an on-board volume control is not a factor as I can operate my system either way.   If I wanted to spend more I would look at Totaldac, Rockna Wavedream Signature, or one of the other top-end contenders, but I selected the price range to achieve a sound quality that is consistent with the rest of my system and because I don't want to spend more due to the still evolving nature of digital technology.  I do like the more natural sound (to my ears) of NOS R2R DACs.  So far, I have considered the three below, but none seem to be a slam-dunk upgrade from the Adagio, which still sounds pretty good in my system.  The decision is complicated by having to "buy to try" so that I can hear one in my system.  Maybe now is not the time for an upgrade.  Any thoughts?

  • Denafrips Terminator w/DSP board - Reportedly has the full body/dense tone type of sound I like, but also has a high'ish output impedance 
  • Holo May KTE - Reportedly measures great for an R2R DAC and has strong reviews 
  • Rockna Wavelight - Some reviewers like it but others put it in the middle of the pack for the price
mitch2
@cal3713 
I do like the Mojo Mystique V3.  The attributes that set this one apart for me include its fleshed-out, natural-sounding tonality, excellent dynamics, and hard-hitting bass, which probably results from the overbuilt power supply.   The sound stage seems to have realistic proportions with respect to singers and instruments being stationary and in proportion to each other, but I am typically more focused on tone and dynamics so may not be the best judge of how that aspect may relate to other DACs. 

After trying various set-ups, at least in my system, I like the USB input best. Because of my system layout, I was really hoping the S/PDIF input would sound just as good or better so I could continue running Ethernet from my Antipodes server to my Metrum converter/endpoint and then a short digital cable into the V3 DAC (I was previously using I2S from the endpoint into my Metrum Adagio).   However, to my ears it sounds better using a USB cable directly from the Antipodes DX L3 into the Mystique V3, so I repositioned the DAC closer to the server, which requires that I run longer IC cables into my preamp.  Of the cables I have on-hand, the Curious sounded better than the Totaldac D1, which is the opposite what I had previously encountered (I wonder how the Curious Evolved would sound?).

The decision to upgrade was difficult because the V3 sounds so good.  However, I like the idea that the new EVO units are more modular and will be easier to upgrade in the future and, of course, Benjamin says they sound better.  Therefore, I am currently finalizing the details of an upgrade to the B4B EVO.  
I can build you a better sounding usb than those if interested Tim. Let me know.  
@mitch2 

A few weeks ago, I brought my EVO to a fellow Agon members home so he could hear it in his system.  He also uses a DX L3 and @grannyring 's "double-smoked" USB cable.   Th EVO sounded *excellent* in this member's system - which is very nice:  Berning tube amp, vintage Tanoy speakers with super tweeters.  

In my own system, I use SPDIF via AES - currently using a 2 meter Black Cat Digit 110.  I'm extremely happy with it.  Previous SPDIF cable was a Sablon.

Regarding IC's with the EVO, I recently switched  from Audience AU24 SX to Cerious Graphene Matrix.  The Cerious cables are significantly better than the Audience in my system.

In my experience, the EVO is very revealing of cable changes - IC's maybe a bit more than digital.

Congrats on your Mojo EVO.
@mitch2 - Wondering if you sealed the deal and if you went for the older aluminum chassis, (which is being offered with a 10% discount off the entire purchase), or if you went for the new ferrous chassis (no discount offered)?

As for me, I have owned a balanced v.3 for the past two years and I am about to trade it in for a new B4B21. As you might know, the "21" is the new model, and the price of the "21" is close to what a 2020 EVO Pro sold for. I was going to buy the base 2020 B4B model, but the good trade in value he gave me for my balanced v.3 helped nudge me to the "21" model, as did the 10% discount on the total price that Benjamin was offering for agreeing to build my dac in the discontinued aluminum chassis. He described the sound differences between the two chassis types as subtle at best, so it made sense to save some of my money where I could.

I passed on the ferrous chassis, but I am going to fork out the big bucks so I can get the "21" circuit boards. I was not expecting the new circuit boards to be offered to me - as I stated I was intending to buy a base 2020 B2B model - but it made sense to pay more for the circuit boards as it will allow for capacitor upgrades in the future. Apparently, it is very hard if not impossible to upgrade caps with the older, more fragile, circuit boards. With the new boards, Benjamin’s next move is to experiment with capacitors. I am really looking forward to his listening impressions.
Mitch, any idea what your V3 had in it ?  Hammond vs. Lundahl, other upgrades, etc.; was the balanced version of the V3 somehow different than the current EVO model with balanced outputs?    To Thaluza's post, it's funny to think in a few years when people are selling these here it will be like Audio Note speakers...  Selling a Mojo Mystique B4B21 Fe Chassis with Lundahl in the Analogue stage, upgraded SPDIF, non-ceramic boards, etc., etc.  I think it's great, shows a designer never resting on their laurels.