How much does a DAC do the more expensive it is?

It would appear that smaller artisan boutique manufacturers will price their components at a comparatively higher price than a large company. If I were to order a DAC from some arcane manufacturer in Eastern Europe and there are only a handful of these DAC’s that exist in North America, I’d expect to spend everything that I have in my IRA Roth. Now am I getting my money’s worth, probably but not necessarily. There are some fairly common DAC’s on the market that do not break the bank but they sound very good. The primary reason for a great sounding DAC is based on that companies engineering team. It is difficult to be hired as an engineer with a large company with a rich history. Also, quality parts are desirable but the price of a DAC doesn’t guarantee that the internal parts are going to be of the highest quality. For me, the primary criteria for what a DAC should do well is to make digital sound analogue. 

@jasonbourne52 big +1

@baylinor +1

equating price w sound quality in audioland is a serious mistake

the primary criteria for what a DAC should do well is to make digital sound analogue. 

Aside from the fact that by definition, this is what a DAC does, it is precisely my benchmark. But what if you don't have a good analogue front end to compare it against?

equating price w sound quality in audioland is a serious mistake

100%, as several others have also pointed out. 

Price is what you pay. Value is what you get.

I believe that is a Warren Buffet quote. Shop wisely.

OP,

The price of units is a good proxy for quality as in, “it is generally positively correlated”, particularly as the price rises. Not true in mid-fi. For experienced audiophiles the words “if carefully researched and well chosen” captures what most of us mean if using price as a proxy for quality. You have to, make sure that what you are buying has the flavor you want and is compatible with your system. But within that context, in general the more you pay the better will be the sound quality. So, it is worth mentioning, because folks new to,high end audio might think that price without thought will get you there… and that is a recipe for disappointment.

Lots of upstarts trying to break in to the market may release new stuff that sounds really great on several dimensions… but may not meet the mark on several others. Companies that have been at this for decades understand sound quality to an incredible depth and produce components with great depth and nuance across all the variables. They carefully price their stuff competitively. Companies like VAC, Conrad Johnson, Pass, Audio Research, Linn, Boulder, dCS… etc., they have depth and value, and their prices, while high reflect true value. Not flash in the pan stuff.