Audio Research Ref 5 preamp

Well, of course no one can argue with the merits of R&D. And obviously to stay in business manufacturers must manufacture. I am not clear on where the cost of great sound is going down in the high end audio business, however, considering the increased price of the Ref5.

Perhaps it is like the wine business and consumption in the U.S. in which there are now plenty of pretty darn good and improved wines to be had at reasonable prices, however the cost of Lafitte, Latour have gone to the stratosphere.

The price of Lafite or Latour goes up. The only one in audio which doesn't devaluate with the years ?
FM Acoustics

same equation for Audio = cars

in the moment you pay it, you loose 30% of the money you put in

Actually McIntosh goes up too. However it's all about no compromise quality and for the money ARC is right up at the top.

Agree.. At their price point, Ref.3 in their days was the one to beat, and I believe even more so their Ref.5 now with the said vast improvements made.

Right. ARC is definitely top end and enjoys a healthy pre-owned market also. It seemed to me that the 2K price increase for the Ref5 was probably carefully considered. They would have to establish perception that the unit was indeed superior, but not overprice it. If they chose price same as Ref 3, it might tend to lessen the perception of the Ref3.
Then there are the new ARC owners who no doubt are looking at margins and profit for their investment. A casual look inside the Ref5 might indicate that manufacturing costs are less, i.e., one board instead of multiple, side mounting of other components. To further differentiate they change cosmetics. What is it really worth? Whatever we as listeners are willing to pony up, just like anything else?