Audiophiles vs DIY-o-philes

here is another view:

a fool and his money soon are parted. there are fools and stupid fools. a stupid fool makes one mistake after another.

foolishness is not necessarily overpaying for audio equipment, but rather not being aware of one's preferences and therefore buying and selling and not having a clue as to the source of dissatisfaction.

the value of a component is subjective. one may consider a $2000 amp overpriced, while another may consider a $15000 amp fairly priced.

the key to remember is the value in use equals the value in exchange.

hi dgarretson:

i have stated a principle of economics, namely that a consumer will pay a price equal to the value he/she places on an item, or what he/she believes it is worth.

the transaction has nothing to do with the market price.
it is based upon subjective value.

for example, if a used cd player is selling for $1500 and i think it is only worth $1000, i won't buy it. the fact that someone else will buy it is irrelevant. it is possible that someone may value the cd player at or above $1500, in which case, a sale is made.

by the way, audiophile amd diy-o-phile have different connotations. such terms may imply a desire to achieve a certain level of sound quality. however, some people are more confident. less lazy and more motivated to build something, than others. some people would prefer to let someone else do the work.

i would conjecture that many hands-on hobbyists prefer that route because they believe they can achieve "better" sound by selecting the parts themselves, rather than relying upon the designer's choices. i don't think it's purely an effort to save money.

the subjectivist notion applies also to other collectibles.

there are fads in all hobbys and although most audio components are depreciating assets, in contrast to paintings, and sculpture, for example, some components actually increase in value.

you are accurate in your analysis that most expensive audio components are price inelastic.

where the elasticity increases may be in the lower priced items, say in the $2000 to $5000 range, where the overall demand may be higher. it is in perhaps this range, or some other range where sales of products may be more price sensitive, than products say, in the range $10000 and up.

you are also accurate in your assessment that "expensive" audio gear is just another collectible for many who can afford it.

note, it is possible to design and build your own amplifier and spend thousands of dollars aon parts and labor, which could exceed the cost of another amplifier which may be suitable for one's needs.

the point is do it yourself may be motivated by quality of sound rather than economics, and that the diy hobbyist may be no different than the non diy audiophile.