The audio hobby is a terrible financial decision.

[PristineSound]

I reckon that this hobby, HiFi Audio, is a terrible hobby financially.

At least with hobbies like mechanical watch, or cars, there is a chance some collectibles may hold on to its value and some may go up in value.

With audio, Gosh, have you tried to sell in the used market post-COVID? It's a disaster.

EDIT: See post #4 for further clarification

 

[levimax]

LP's are pretty easy to sell and seem to hold or go up in value for the deserable titles in good condition. Same with turntables. Everything else not so much.

 

[Philbo King]

If you're doing it to invest you're doing it for the wrong reason.

 

[PristineSound]

If you're doing it to invest you're doing it for the wrong reason.

Well couple of things. First, if I was looking to invest in something, I wouldn't be the audio hobby at all. Second, there are very few hobbies that can give you a return like the S&P500.

So almost every hobby is a money pit, with some holding up with inflation and few better than inflation but worse than the market.

With that being said, it wouldn't make logical sense for anyone to be in a hobby for investment as primary goal.

 

[sam_adams]

HiFi Audio, is a terrible hobby financially.

Investing in Berkshire-Hathaway stock is a better hobby.

 

[beeface]

At least with hobbies like mechanical watch, or cars, there is a chance some collectibles may hold on to its value and some may go up in value.

A very slim chance. The "future classics" aren't always easy to pick. And many of these items depreciated in value (sometimes for decades) before they appreciated beyond the initial value.

 

[Redacted]

I spent about £3k on kit in total. It works very well. I've spent that on a decent mattress and Miele dishwasher, so no big deal. Without flaunting my wealth, it's not an amount of money that's relevant to me over several years, although for many, showing how much spare cash they have is the main point. I use it to listen to music, and I have spent massively more on recorded or live music over the years - to me, that is the actual 'hobby', the kit is a means to an end, not the end in itself.

 

[Mart68]

With audio, Gosh, have you tried to sell in the used market post-COVID? It's a disaster.

Yes sold some speakers. Sold in 20 minutes of putting the ad up. Buyer was here less than 24 hours later paid cash.

I got them cheap and maybe I could have sold them for quite a bit more but I just asked a bit less than I paid for them.

Maybe that's not typical, they were near mint in original boxes with all the paperwork. Still I had them 9 years, net cost of ownership was £25.

I have a near mint Technics SL1200 bought in 2010, that's done better than gold but nothing like as well as the S&P.

I agree with you that I would not buy hi-fi equipment solely as an investment, but I'm not sure anyone actually does?

 

[Redacted]

I agree with you that I would not buy hi-fi equipment solely as an investment, but I'm not sure anyone actually does?

Oh no! Are you suggesting that my gold-plated, boutique, designer headphones aren't going up in value in a dangerous world?

 

[Mart68]

Oh no! Are you suggesting that my gold-plated, boutique, designer headphones aren't going up in value in a dangerous world?

Should have invested in some gold-plated surface to air missiles instead

 

[DanielT]

I reckon that this hobby, HiFi Audio, is a terrible hobby financially.

At least with hobbies like mechanical watch, or cars, there is a chance some collectibles may hold on to its value and some may go up in value.

With audio, Gosh, have you tried to sell in the used market post-COVID? It's a disaster.

Name the hobby where you buy new and the new doesn't lose value?

Okay I know, art (and that in the borderland of art, for example watches) if you really know what you're doing you might be able to buy and it increases in value. Note I'm talking about new things.

Used. A completely different thing. I can, and I'm not bragging but just stating (there are many other ASR members who can do the same thing) buy used hifi, let's say amplifiers and speakers and then sell them for more or less the same amount at a later stage if I feel like it. It's not complicated to figure out a reasonable used price. At least for fairly well-known brands/models.

By the way, those who bought vintage hifi (say 70s receivers) a few years ago may very well have stuff that has increased in value.

 

[DeadBeatAnon]

I reckon that this hobby, HiFi Audio, is a terrible hobby financially. At least with hobbies like mechanical watch, or cars, there is a chance some collectibles may hold on to its value and some may go up in value. With audio, Gosh, have you tried to sell in the used market post-COVID? It's a disaster.

I'm into DIY auto repair as a hobby and most vehicles simply do not hold their value. The COVID lockdown disrupted the supply chain, but the current high prices for used vehicles is totally driven by auto dealerships. They've adopted a new business model since the lockdown: sell fewer vehicles at higher prices. But they're not going to pay a private seller that premium price--they'll lowball you.

 

[Mart68]

I scrapped one of these back in 1994. Who knew?

1981 Ford Fiesta White Manual, 4 speed Right Hand Drive i...

1981 Ford Fiesta White Manual, 4 speed Right Hand Drive in United Kingdom - For Sale | Car & Classic, £34,995 FOR SALE JF Classic Cars pr...

www.carandclassic.com

20 years ago suggested to a pal we buy some 1980s Fords and store then in his big empty garage, he declined. We'd have made ten times our money back.

 

[Karmacoma]

The man is right.
From now on imma collect stamps.

 

[Redacted]

The man is right.
From now on imma collect stamps.

Stamps? Make sure they are a tight fit in your ears to aid bass response. Penny Reds have poor top end response and bad 'imaging'.
I checked this with AI, so it must be a fact.

 

[Ultrasonic]

My audio equipment depreciates at a much slower rate than a new car would...

Most importantly I don't buy audio equipment to be a financial investment but rather to provide musical enjoyment. Others here have a professional interest in good audio quality too.

 

[mrehorst]

Name the hobby where you buy new and the new doesn't lose value?

Okay I know, art (and that in the borderland of art, for example watches) if you really know what you're doing you might be able to buy and it increases in value. Note I'm talking about new things.

Used. A completely different thing. I can, and I'm not bragging but just stating (there are many other ASR members who can do the same thing) buy used hifi, let's say amplifiers and speakers and then sell them for more or less the same amount at a later stage if I feel like it. It's not complicated to figure out a reasonable used price. At least for fairly well-known brands/models.

By the way, those who bought vintage hifi (say 70s receivers) a few years ago may very well have stuff that has increased in value.

Watches? Investment? Hah!:

 

[Rickysa]

hobby financially

Two words that should never be used together

 

[Oddball]

I agree that audio hobby is not doing well financially if compared to investable assets in general. But then the return on the investment in audio hoby is of a different kind - as noted - it is measured in the enjoyment of the material that is played on audio gear.

Mitigation against the financial loss would be to keep the gear for a long time, so that cost-per-month drops to levels that are "reasonable". In that context, buy once cry once has a meaningful financial impact. Constant "upgrades" are going to be less financially rewarding for the most part. Good speakers and amps will last for a very long time - 15 or 20 years, if not longer - if chosen well. Pre-amps or AVP/AVRs are usually the components that require more frequent upgrades to do new features or formats so keeping that component separatate helps to isolate the loss to a smaller amount.

The cost of my 5.1 surround system 15 years ago was around $40K. I still have the speakers and amps and use them, which brings the cost (without the $5K preamp) to less than $200 a month. If they last for another 10 years, which I think they could, as for the most part they were pampered and well engineered, that would bring the cost closer to $100 a month. I am comfortable with both numbers as they represent a good return for all the enjoyment I had from the system. There were additional costs upgrading the AVP, but that is unfortunately a necessity in the evolving environment.

 

[Redacted]

Watches? Investment? Hah!:

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Well, that's just killing time...