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
I ended up with Mojo Audio's Mystique EVO B4B 21 D/A Converter, which I found to sound a bit better than the Mystique v3 it replaced, but cut from the same basic cloth.  It cost a bit more than the budget I posted to start this thread last December.  As @jimmy2615 reports below (or above depending on how you sort), it serves the music very well.   Not sure which version Jimmy heard but IMO the B4B 21 displays great tonal color, deep, dynamic and slightly rounded bass, and no noticeable SQ shortcomings but maybe (and subjectively) falls just a bit short of some other very good DACs with respect to all the audiophile markers.  I also have the Deja Vu EVO Media Server and I am fully satisfied with the musical sound resulting from that combo in my system. 
Simply based on the bottom tier Mojo-Audio DAC in my system I’d have to think the better DAC’s should be on anyone’s audition list. If I had the $$$ for sure one would be in my system.
My server was built by Mojo and uses his Deja vu software.

am currently comparing at length the doge 7 (and an audio note ank 4.1 tube dac) against my references chord tt2/scaler, sonnet morpheus and audio mirror tubador 3se

am not through the listening/comparing yet but i can say at 2 grand the doge 7 is spectacularly good... jbhiller’s description earlier in this thread is quite accurate, it is very very close to the m scaler/hugo tt2 at over 10 grand cost - to my ears it is also more natural sounding than the top denafrips terminator...

more later

I realize this is an older discussion but it won’t hurt to freshen it up a bit.  
I sold my mojo audio mystique v3 over a year ago and have been on a constant search trying to replace it. I’ve tried many dacs, many more then I care to admit and finally found a dac that just plays beautiful music. No fatigue, no bloat, no fireworks or pyrotechnics, just good warm music. No MQA, no DSD just 16/41 to 24/192. It’s the Swiss built Merason Dac1. I find it hard to understand there is no noise or discussion on the forums of the Merason. It’s list price is $5500 but my dealer shipped it to me at $4950. Prior to me buying it Mike at Tweek Geek sent me a demo on his dime to try. This certainly eliminates stress of buying and having to sell if it doesn’t fit in your system. 
The dac has a huge soundstage deep and wide, never ever bright with the perfect amount of detail. Bass is full sounding which helps to provide a great foundation of the music. This dac is very large sounding with plenty of meat on the bones. 
if anyone is shopping for a dac in the $5000 range this is a great very musical fun dac to audition. 
Starboard