What do you usually upgrade first - cartridge or phono stage ?

I have never heard a Cartridge create the same impression that a Phonostage can. Cartridges are having their full potential removed when not replayed through a carefully  thought out circuitry.

OP, I think the answer is going to be different for everyone. For me, after I've lived with a component for years, and along the way, made changes....you kind of get a feeling which direction you need to go 

Phono stage. As my systems got better over almost three decades I was shocked how every time I upgraded the  phono stage how much better the sound go... more so than other components. Not until I got to an Audio Research PH9 did the improvement gain slow. 

@inna I am blaming you and this thread for potentially expediting my phono stage upgrade. Lol

audphile1, you are right. Audiogon can be a disaster in this sense, I know it from the experience.

slaw, of course.

dwette, I see, serious upgrades.