Is High End Audio Market in Recession?

[caesar]

Are people still buying gear or holding back spending and enjoying the gear they purchased over Covid?

Thanks

 

[Al M.]

I bought my PranaFidelity Dhyana speakers and ASC Isothermal TubeTraps last year, after Covid. Yet I am currently holding back with spending, mostly because I am mainly done. I'm enjoying my system.

Upgrade planned next year:
4 Isothermal TubeTraps replacing 4 regular TubeTraps in the corners of my little window bay next to the left speaker (I already have 4 Isothermal TubeTraps stacked in the corners of the front wall)

Upgrade planned next year or in 2026:
External 10 MHz clock for my Mutec reclocker

However, I have no plans to change preamp/amp, speakers, any signal cables and power cords, subwoofers. I'm all set on all these. I could upgrade my DAC, but have no intentions to do so at this time, it's superb. I might change the CD transport at some point, but that is very low priority as well, as long as the laser holds up.

So yeah, the industry is not going to make a ton of money off of me.

 

[PeterA]

I don’t know the answer to the question you ask in the thread title. If the question you ask in the first post is addressed to the individual members at this forum, I can say I bought my current system in April 2021. I upgraded the turntable a year later, and the phonostage a year after that.

Covid basically started in the winter of 2020. I don’t know if it is over as some people are still getting shots around here. I have now stopped buying audio equipment.

I do not see a lot of people starting system threads and describing new purchases. There is very little discussion about the latest footer or speaker spike or power cord. I see a lot less excitement discussing new gear on this forum compared to say 10 years ago. Major product introductions like CH 10 electronics or the Nagra turntable or latest Wilson Magico speakers seem to come and go very quickly now.

I’m not sure if my impression based on forum discussions reflects what’s really going on here or with the industry at large.

 

[spiritofmusic]

COVID changed everything for me, my income as self employed therapist took a massive hit, and I'm only just returning to stability.
This forced a change in mindset that I'm glad in retrospect happened, to max out my system only with spends that are maximum bang for buck/strategically critical, and divert spending mainly to LP/boxsets, and some CDs.
I also have hugely different and new priorities with renovating the chapel here, personal life upgrade in getting married, all of which mean I don't throw anywhere near the same cash at gear that I did 2013-2020.

 

[Kingrex]

The stock market is still doing well, so the big spenders are still building wealth. That doesn't mean they aren't sick of manufacturer bringing out a new late and great every 2 years. That just says they bought obsolete and it eviscerats resale value.

I was reading A-Line post #8 and I think hes spot on. I'm considered rich but inflation gutted me. Another reason I am super cautious on any audio spend.

 

[Republicoftexas69]

Never have been one to jump from rig to rig. I am methodical about what I buy and keep them for years.

 

[facten]

Are people still buying gear or holding back spending and enjoying the gear they purchased over Covid?

Thanks

What are you doing relative to your question?


Me, I have been toying around over the last couple of months or so with adding analogue but staying under $15K. Not enough of the music I prefer is on vinyl so I keep wavering on moving forward with that. That said, I will continue to make purchases if I identify something that either will improve my system(s) , or simply want to give a try.

 

[A-Line]

COVID caused huge financial problems for many, which affects many businesses as well, including high-end audio. I won't discuss the bad politics that caused the problems, everyone has their own opinions regarding the matter.

In general, a lot people now no longer have the discretionary cash needed fund their favorite hobbies as a result of those bad politics. Consumer debt is the highest ever and a lot of people are struggling to just pay for their basic living expenses. Those with enough funds can move forward with their projects. Sales of luxury items are down, including sales in high-end audio.

A lot of countries are struggling financially also, many close to bankruptcy. I would suggest that corruption, greed, a good old fashioned stupidity from their government officials/leadership played a huge part of their financial problems.

I certainly hope that things improve for everyone in the upcoming New Year of 2025.

But for me I'm still okay.
This year I purchased a new CD player, 2 vintage stereo tuners, a new streaming device, and a new phono pickup, and have upgraded my Linn LP12 with a Karousel bearing. This all happened in August - September of this year.
I'm now done with all upgrades until it's time for a new phono pickup in about another 10-12 years.

Just my opinions.

 

[Kingrex]

I also have hugely different and new priorities with renovating the chapel here, personal life upgrade in getting married, all of which mean I don't throw anywhere near the same cash at gear that I did 2013-2020.

I'm sick of spending money on audio. I had to reprioritize too. Its not much fun anymore. I would rather tune what I have. Maybe Biamp. But that's not expensive on my level. And its tuning in a degree.

I do like improving power. Per my battery thread, I was thinking of having enclosures made to house inverters, duplex, batteries etc. A multi box all in one like Stromtank. Just multiple small boxes. During a conversation with a consultant, this exact topic came up.

My gut says people are done spending on audio. That means I see no market. I see consumers as continuing to buy durable goods. They may want a rack battery system tied to solar and home backup for refrigerator, HVAC, computers etc. But your solar installer is going to offer you whatever they sell and build it as they like.

 

[A-Line]

I don’t know the answer to the question you ask in the thread title. If the question you ask in the first post is addressed to the individual members at this forum, I can say I bought my current system in April 2021. I upgraded the turntable a year later, and the phonostage a year after that.

Covid basically started in the winter of 2020. I don’t know if it is over as some people are still getting shots around here. I have now stopped buying audio equipment.

I do not see a lot of people starting system threads and describing new purchases. There is very little discussion about the latest footer or speaker spike or power cord. I see a lot less excitement discussing new gear on this forum compared to say 10 years ago. Major product introductions like CH 10 electronics or the Nagra turntable or latest Wilson Magico speakers seem to come and go very quickly now.

I’m not sure if my impression based on forum discussions reflects what’s really going on here or with the industry at large.

I was on a big audio forum about 14 years ago. I'm no longer on that forum.

So this particular forum had a bunch of people that changed high-end audio components as often as normal people change their clothes. They were losing thousands, sometimes tens of thousands, per month from all of their buying new and selling used. Those individuals considered themselves to be somewhat of a expert too yet their music inventory consisted of only a few CD/SACD's and or LP's...

I had not been back to that forum since about 2011 but revisited that same forum 2 days ago and it's a ghost town now. Hardly any new posts and no one is posting about any new purchases.
I wonder what happened to all of those equipment rollers? Did they run out of money or did they find a new hobby?

I think that your post is relevant to the topic at hand. For me I'm done because my 2 setups are now complete and finished.

 

[spiritofmusic]

I'm sick of spending money on audio. I had to reprioritize too. Its not much fun anymore. I would rather tune what I have. Maybe Biamp. But that's not expensive on my level. And its tuning in a degree.

I do like improving power. Per my battery thread, I was thinking of having enclosures made to house inverters, duplex, batteries etc. A multi box all in one like Stromtank. Just multiple small boxes. During a conversation with a consultant, this exact topic came up.

My gut says people are done spending on audio. That means I see no market. I see consumers as continuing to buy durable goods. They may want a rack battery system tied to solar and home backup for refrigerator, HVAC, computers etc. But your solar installer is going to offer you whatever they sell and build it as they like.

Agree re gear fatigue.
I've got very lucky on high value core spends since COVID that haven't broken the bank (TT plinth and motor, amp surgery and tubes, acoustic treatments), and wonderful life changing additions that I got great deals on (Airblades, audiophile circuit breakers), and a beyond major yet hugely affordable addition to my tonearm I'll reveal all on once the patent for it has been granted.
These have all cost me way less than major component upgrades, and have been totally uplifting sonically.
About one quarter the budget spend annually now since 2020 that I spent in the two decades previously.

 

[Iamrael]

3 years ago I retired and sold my home in NY suburbia which had both dedicated theater and 2 channel purpose built rooms.
At the time I had already started to become sick of spending stupid money but it was mostly the constant obsession with details that ultimately changed my perspective on listening to music.
I have a relatively modest system now compared to then but this system provides just as much angst and distraction than anything previous.
I am most connected to music when I listen to my outdoor stereo JBL Bluetooth speakers with my morning coffee or late afternoon glass of wine in my pseudo Japanese garden.

 

[the sound of Tao]

I do not see a lot of people starting system threads and describing new purchases. There is very little discussion about the latest footer or speaker spike or power cord. I see a lot less excitement discussing new gear on this forum compared to say 10 years ago. Major product introductions like CH 10 electronics or the Nagra turntable or latest Wilson Magico speakers seem to come and go very quickly now.

I’m not sure if my impression based on forum discussions reflects what’s really going on here or with the industry at large.

I’ve felt this increasing trend of coming to a destination and some kind of an end of the line in the journey for years… you can only search intensely for destinations in your system for so long before you’re eventually going to trip over them and find yourself mostly there… and voila the timely end of career accompanied by the big slow down on new gear because the journey has (hopefully) been in so many ways successful. It’s about changes of phase in life. For those still not happy after spending so many decades in a hobby maybe that’s something to consider also.

Never say never with change but I figure this shows up in a fundamental change in the conversation for many.

 

[XV-1]

I believe most of the hiend manufacturers are creating a perfect storm where more companies will go belly up, as we have already seen a few examples.

Obscene price increases have seen me stop looking at upgrades in general.

Hiend manufacturer sells less product, so raises prices, ends up being a decreasing spiral to nothing.

 

[Porsche]

I have 3 systems , one is complete and I have upgraded everything over the last year, feel it's complete now, Burmester Reference and very happy. accuphase system in the works.......

 

[MarkusBarkus]

...ha, 7-speed tranny, @Porsche so you still have room to run before red.

I found having two systems allows for stealth upgrades as you push to the second set-up before Sweetie recognizes what's going on.

 

[steve williams]

Covid???

I’m still using circa “ chicken pox”

 

[Another Johnson]

The dealers and manufacturers I am close to seem like they’re doing ok.

I’m still trading gear from time to time, but for the most part, I’m just enjoying my music.

Trades in the past year led to an upgrade in my record cleaning machine (an unexpectedly significant advance), an upgrade in tonearm on one of my turntables (a lot of fun for sure, though probably unnecessary), and acquisition of some new phono cartridges (bringing even more “play value”).

Boxes that left included a couple of RCMs, a bunch of AQ interconnects, a turntable, a few cartridges, maybe some other stuff.

No ones getting rich from my activities … but I can’t wait to sit down and listen on most days/nights. It’s still a passion after about 67 years. It’s been about that long since my grandparents let me start playing their console record player without supervision.

 

[Kingrex]

I have 3 systems , one is complete and I have upgraded everything over the last year, feel it's complete now, Burmester Reference and very happy. accuphase system in the works.......

Are you still in your 40s?

For a long time we have been talking about the aging of the audiophile community. Could also be as people age we loose some interest in hobbies. And our finances become tighter as we end up on fixed incomes.

 

[Porsche]

Are you still in your 40s?

For a long time we have been talking about the aging of the audiophile community. Could also be as people age we loose some interest in hobbies. And our finances become tighter as we end up on fixed incomes.

I wish, will be 55 on 12/10