cost of speakers in relation to the rest of the system

Maggies are known for their price/performance so that will affect the ratio...

I only paid $4,000 for my 3.7i's (retail is $6,400) and am pretty happy with them.   My ARC pre-amp was used, and so was my DAC.  CD Player was new; can't recall if the Sunfire amp was new or used...

but yes, it's like buying wine - part of the fun is in getting a great value

My system, w/prices as best I recall, is as follows:

 5,000  VTL ST-85 integrated amp
 7,500  Vandersteen Treo CT speakers
 3,100  Rogue Audio Ares phono preamp w/Magnum upgrade
 3,000  Rega RP-3 w/RP-1000 tonearm, other tweaks
 1,800  Rega Apheta 2 cart
 2,000  exaSound e12 DAC
 1,200  homebuilt PC renderer
=========
23,600 total, which puts the speakers at 31% of the cost. If you omit the DAC and renderer, the total cost is 20,400, of which the speakers amount to 36% of the total. Of course there are lot interconnects, power cords, conditioners and linear power supplies omitted from this list.

I'm happy with the result. 

My experience is thus:

There is poor correlation between cost and performance. If you completely ignore the prices, you may find much less expensive speakers you like more.

The audiophile who develops his ears with no regards to price will be happier for far less than most others.

Best,

E

Interesting on the different takes. I guess I never went into it with a set proportion in mind, particularly with fiddling, upgrading, or trying better to match this or that or just liking a particular contraption or speaker.

More of a process...including "silliness just to see how [something] sounds," most recently SET/SEP, passive pre, r2r, and single driver.

In the primary, which doubles as a LR/DR, so a larger room with some of the requirements Almarg mentioned, although I don’t think I hit 105db very often, the speakers represent roughly 55% at MSRPs and the highest percentage in any room. Those are the most expensive pieces I’ve ever purchased, and they may always be....

But, in a small office with difficult bookshelf-type placement, near-field listening, and where I rarely listen very loudly, I think I’ve finally ended the search, and, with a sub and crossover, the speakers represent maybe about 15% of the MSRPs.

@randy---Oh, I love "discovering" a great value wine.  I found a few, but they didn't stay that way...prices recently skyrocketed.  A couple of damned WE and WS ratings, probably at least partially to blame.

In my case I  spent roughly 20% of the total
the New Martin Logan 11-A speakers are a exceptional value at $10k, the 13A if you have a big room.
they have  a 24 bit active crossover dual powered woofers per cabinet  and Bass  in room to 26 hz I my room. Seamless Bass ,  Room correction to remove Bass nulls that all rooms have . Adjustable mid,and low Bass ,and 91 db efficient .
these panels 1/3rd is curved giving a much  bigger sweet spot then in the past.
Spl levels up to 110 db if you have the power to drive them with control.
my budget was $16k for speakers and they speakers beat the majority of speakers in the $15k + area  in many department  . If you could afford 50%  of the system  in a speaker then go for it. The Speaker is the highest distortion piece of equipment without question 
therefore the highest quality you can afford will pay dividends  in musical accuracy and fidelity  This is why I personally like Electrostatic speakers ,they are the fastest transducers out there and  these new models sound very accurate .