??? Established Manufacturer or Take A Chance ???

It is easy to discover within other Threads, posts made by myself, that clearly explains that I have turned my back on the mainstream suppliers of audio equipment many many years passed.

Today the only Device in my system that is OEM original is the Perfect Wave Transport.

All other devices are Bespoke Built or very very modified products that were once a Brands offered sale items. 

The TT>Tonearm>Cartridge -- Phonostages ( Valve - Valve Hybrid - SS) -- DAC -- Pre Amp's -- Power Amp's ( Valve - SS) -- Speakers ( ESL - Cabinet Designs) are not in any ways a mainstream Item. All are produced by individuals who specialise in undertaking such works with Electronics and Micro Mechanical Engineering.

The system impresses me beyond my wildest dreams, and all who have encountered it completely assembled within the home have been offering appraisal that is very pleasing. When the system has been demo's at Public Attended Exhibitions, the Room used for the demonstration has been constantly full for the large part of the shows duration, the Thumbs Up gestures and voiced appraisals has been in great number.

In relation to cost, to go the route to match this systems qualities as a off the shelf purchase in today's market, I would suggest the cost of £150K+ has to be considered.

A Father and Son met at a Public Exhibition who were also a Company producing Turntables where prices started at £50K met with me, when the Room quietened, and informed me, my system was on par with their clients systems that can easily cost in excess of £250K. Compliments with that type of info are ones that don't come on a regular basis. 

More importantly, I am playing with audio now, but never seem to be replacing anything, only adding where good discoveries are made to increase the range of End Sound that can be experienced.   

I’m with @pindac with leaning towards the unmentioned third option - bespoke small operations that likely have presumed little overheard and limited/no advertising. With these sometimes one-man operations I’ve recently noticed that prices have fluctuated as they navigate the current environment. On this note, I had a lengthy conversation with a small brick and mortar HiFi dealer who stated they were adjusting prices daily on their website. Not trying to be political; it’s just the times we’re living in right now. 

Between the other two options, who really knows? We don’t have access to their financials and can only attempt to make educated guesses with their positioning in the market. With Auralic seemingly winding down, you begin to wonder about other perceived well-established companies. Over in the Roon Forum, Peter Lie, Firmware Lead for Lumin, recently addressed the Auralic issue by stating that Lumin had plans on releasing new products and felt confident in the direction of Lumin. 

Small Information like this would give me some confidence I guess. In all honesty, even without any information like the above, and if I was in the market, I’d still consider something like the Laiv Harmony DAC.

I would want to know more about the companies, stuff like who exactly is behind the firm, is it a mostly one man show or is it more substantial, is the established firm owned by folks with a history in the business or some VC outfit, etc.

Just taking the parameters you outlined-everything about the products is equal- I would pay up for the more established firm, assuming its history is good, no reported financial trouble, good reputation for service, etc. That's no guarantee- old line firms like MBL and ARC have been known to run aground, but I think your chances of having manufacturer service, ongoing product support and retaining resale value are better. That's worth something to me. Many of the smaller firms are great innovators, but if there is no viable succession plan, it can be problematic. 

Some great companies like McIntosh and Sonus Faber change hands at an alarming rate and you never no what new corporate ownership will bring. Some like T+A and Burmester figure out a succession that is more likely to honor the founder's vision.

If EVERYTHING is identical, I would expect reliability to be identical.  In the case of a solid state amplifier, a quality piece should last 15+ years without service (in my experience).  If that is the case, I'd save the money.

But, I would be concerned about the reliability of an unproven product with no history.