$35000 to $40,000. speakers what would you buy and why?

Get a Klipsch Jubilee if you have the space.  This list of speakers will sound like a letdown next to it.

The best sounding speakers on earth will not be small. 

I am contemplating purchasing my End game speakers. The ones that catch my eye are the Magico M3, Magico M project, Stenheim Alumine 5se, Rockport Cygnus and the Songs Faber Amati Homage G5.  

The last decade my listening room has had the persona 7f, kanta 3, dsp 8000se, salon 2, salon1, usher be20dmd, KEF blade, Yamaha ns5k, KEF r105/3 & r107/2…VA Strauss & Beethoven and I’m sure there’s more. Sometimes different is better sometimes it’s just different. 

Hi Chuck if possible look into Charney Audio. His designs are full range single driver horns based on the tractrix theory. Reach out to Charney to discuss your room dimensions, listening preferences, and associated gear. It will help to determine which of his line to recommend. Most of his line will fit right into your budget or less. Charney recently had a mention in Stereophile and a complete review in Enjoy The Music. As I wright this I’m listening to a new pair of Maestro XL horns with Voxativ AC 2.6 drivers in my 11x15.5x8 room. Fantastic single drivers sound where the speakers disappear and musicians are in my room. Give Charney a shout it’s worth the call. 
 

https://www.charneyaudio.com/

Everyone has their favorite speakers.  Over the years I've owned quite a few and eventually sold them after deciding I couldn't live with their subtle distortions.  Eventually, I ended up with Shahinian Acoustics Diapasions with two subwoofers per side.  That was almost 40 years ago.  They've been upgraded several times over the years, but these are the speakers I can play today and still marvel at how musical they sound.  The last price I saw was a couple years ago for $36,000 a pair, with the double subs.

Interestingly, folks who buy them eventually become fiercely loyal to the brand simply because of how musical they are.  An interesting aspect of all Shahinian Accoustics speakers is great source material sounds great (like all decent speakers) but lesser albums still sound musical, unlike many loudspeakers.  I think the real test of a loudspeaker is how well it plays the lesser recordings, not how great they play good ones.  Let's face it, not all music we buy will be great recordings! 

This has been an interesting thread to read. I am in the same position as OP and I’ve decided to have a custom pair of horns built using the Western Electric 555 drivers, an 18 inch woofer and a super tweeter. Upgrade path from here would be as simple as replacing the 555 driver with a 7613, and a re-tune, if I can find them.