This whole episode brings the value aspect of HiFi equipment into sharp focus. I think we all agree, the expectation of anyone purchasing a phono preamp for tens of thousands of dollars/pounds/euros would be high. When you're paying this kind of price, the buyer should be assured that the equipment is professionally constructed to a high standard. Even a boutique brand should be able to achieve this. Indeed, some of the other high priced phono preamps mentioned in this thread show these types of characteristics. A solid, well made enclosure and decently arranged and mounted internal circuit components. As to the actual circuit design and features, much of this is part of the "magic" as far as the buyer is concerned and well beyond their understanding.
However, ultimately, the basic components and construction are from bottom to top, electronic components mounted on a circuit board with (usually) discreet wiring to connectors mounted on an enclosure. That's the HiFi component distilled down to its fundamentals. As I have suggested in some of my other posts, this formula does not contain any component that would be called "expensive" regardless of the function of the assembled device.
Top level DAC chips, as used in many devices like the ESS Sabre ES9038Pro, cost around US$50. Obviously, this isn't any use unless it's incorporated into a PCB with an array of support components but as I have observed, some manufacturers aren't reinventing the wheel when it comes to circuit design. As with the Tom Evans preamp, it's common practice to simply incorporate the manufacturers sample circuits into your design, saving you a bunch of time. I believe DCS audio have followed this route with their DAC.
I know I've raised this before but ultimately, what is the actual unit cost of one of these HiFi component devices? If we're looking at the internals, there's some sunk cost in the design which can be quite substantial (having designed PCB's myself). Having reached the finished PCB though, with Chinese manufacturing using pick and place automation, these can be cranked out at very economical price levels. Subsequently, you see a lot of boutique (high-end.... groan) manufacturers enclosing this low-cost assembly in a massively overengineered, flashy enclosure with a big fat power transformer to add necessary "weight-equals-expensive" kudos. However, there's nothing new or novel inside, no patents have been applied for the internals are as close to generic as you can get. This example is around the $50,000 mark (for the pair!) Realistically, there's maybe $1200 of value in these with the bulk of that being the enclosure.
There's nothing special or massively expensive inside these amplifiers and I dare say, nothing novel about the circuit design.
