To quote from Wiki:
"Adam Smith recognized that commodities may have an exchange-value but may satisfy no use-value, such as diamonds, while a commodity with a very high use-value may have a very low exchange-value, such as water."
But if Magico, et al, started marketing a speaker "under 15 grand", it would be labeled as "entry-level" and thus raise the price of the other products. @emailists is right insofar as the R&D and production put into these high-end products, much like a McLaren car or a Patek Phillipe watch - they are technically advantageous and, when paired with the right equipment, gorgeous sounding.
But for every TAD, Wilson. Magico, and other six-figure speaker, there are 3- and 4-figure speakers that satisfy the listener to the same extent.
"Adam Smith recognized that commodities may have an exchange-value but may satisfy no use-value, such as diamonds, while a commodity with a very high use-value may have a very low exchange-value, such as water."
But if Magico, et al, started marketing a speaker "under 15 grand", it would be labeled as "entry-level" and thus raise the price of the other products. @emailists is right insofar as the R&D and production put into these high-end products, much like a McLaren car or a Patek Phillipe watch - they are technically advantageous and, when paired with the right equipment, gorgeous sounding.
But for every TAD, Wilson. Magico, and other six-figure speaker, there are 3- and 4-figure speakers that satisfy the listener to the same extent.