Audio Research Reference 5 Preamp

It can be an expensive hobby- no doubt. But the nice thing is- there is always room for improvement. Consider that some people put remarkable sums of money and time into dedicated listening rooms. What are the chances that another audiophile will come along when it is time to sell and buy your house at a premium because of the listening room?
As long as we all get something back out of it, then it is worth it. It's all about giving up something else to fuel our passions.
The best is when a friend or neighbor stops by and assumes it is a nice $1000 system. After-all, a really expensive stereo would have graphic displays and lots of knobs and lights. What's the point in trying to explain? They say wow, I didn't know records could sound so clear and I say digital is evil and then they leave and never come back.

The least that could (should) ? be done is allow for modular-type or similar upgrades, so you don't lose your a$$ so bad on your current unit.

Lougiants: I feel your pain but $12K is not as outrageous as some of the top of the line preamp offerings from BAT, Ayre, VTL, MBL, etc which are pushing $20K. A bigger concern for me is why are these companies still charging that amount and not providing an integrated phono section for that amount. A curious exemption IMO given the resurgence of interest in vinyl....

Hi Russellrcncom, yep, I agree with you on all points.
I guess my main point in this( looking back I misread a post...sorry guys) but in this economy, especially on wall street NY, NJ and LA where the high $$ incomes have gone down the tubes, the loss of jobs...then take a look at the $$ speakers reviewed in TAS last month, and the price of the components reviewed in the last Stereophile.

I just find it perplexing with all the dealerships that are struggling(I know one personnaly) where the demand for high $ components has dropped considerably.
But yet all I see is higher $$ components still being reviewed and mentioned...
Maybe it's just me on the list who can't afford a 12K pre-amp let alone a 20K+ BAT REX, or feel I am being scammed by the every 4 or 5 year changes...then to read how many or most ARC fans say the older stuff sounds better.

Sorry, guys...I'll drop out. Please continue on with the discussion of the Ref 5.

As a note, every ARC system I have heard I liked.

Lougiants - You are correct in what you say.........

However - If the REF 5 is a 'significant' improvement over the REF 3, the "nudge" in price from 10K to 12K will be justified, regardless of the economic climate. I doubt they would have priced the REF 5 the same as the REF 3 or only 1K more, for that matter. The 'price point' of the REF 5, given the current economy, must have been a concern for ARC and they may have decided to be conservative with the increase, hoping for more unit sales rather than bigger profit per unit.....I'm only just guessing, I'm not in the manufacturing business.
Apparently Mr. Johnson has been working on this new design since the REF 3 was introduced. Whether it was ready then or only until recently, only ARC knows.
As a point of reference, when the ARC SP-10 was first introduced in the early 80's, the MSRP was 5K, a lot of money then as comparatively 12K is a lot of money now.
Despite the economy, there are those who have not been affected as much or at all, to whom the hi-end market appeals. Some are buying the REF 3 used now. Some will wait and buy the REF 5 used in the near future..........
Patience can pay off.