Are DAC's overpriced?


External DAC's are pretty expensive imho... BUT I don't know that much on how to choose one. I want mostly cd's in my small two channel system... I am rebuilding after selling my Logans and Mac amp to go back to "drivers"! The Logans wore me out with Maintenance.  Should I buy a new cd player or get a new DAC for my old player?  
captbeaver
Massdrop Grace SDAC, Topping D30, Schiit Modi 3, Khadas Tone Board (can be used bare, but would advise using a case). All are excellent and are <$150.

EDIT, seeing as your CD player pliekly only has digital coax or Toslink, then scratch off the Grace DAC, as it’s USB only.
If you old CD spinner still plays well, get a DAC. The prices for DACs are from a few hundred to a few hundred thousand. Good used DAC can be had for a few hundred.
The CD player is a Denon DVD 2900... she has served me well... I'm thinking about selling my Mac pre and buying a Parasound P6... has all the features and (I think) a great DAC built in. It's confusing for me...