This is where I think Devialet are totally unique. The Devialet Expert 130 has the same streamer, DAC and casing as the £13,500 250 model. The phono stage is slightly more basic and it is 130w into 6ohms, but can be run at full power with basically no distortion or clipping. The 130 costs £4,500. So you get this:


for quite a bit less than the price of this:
It would not surprise me that if PS Audio tried to fabricate the casing of the Devialet, and the image does not show the 4mm solid copper base, it would cost more than making the entire DSD DAC.
Also bear in mind the Devialet is made in France when about 80% of European audio is made in China. They do so because it is cheaper and more efficient to make it in France. Chord is another example, all made in the UK.
Forget the sound quality, the real problem seems to be that so much high end audio is made in small batches (relative to most audio), a lot of the processes are subcontracted out and a lot of it is hand made. This is spectacularly inefficient.
The reason why Devialet is so cheap for very high quality audio is because they use manufacturing processes that the Japanese would consider normal, or even impress them (and it is difficult to impress the Japanese, they are inscrutable).
The likes of Yamaha and Pioneer can do this for a wide range of products as they are big global companies. They make really good 100w integrated amps for £350. Devialet can do it on a small scale (sales of around $100million pa.) because they only really have three products.
Linn and Naim can’t really compete with Devialet 130, and Hegel come pretty close with the 390 (which I think is made in China to a very high standard), but is about £1,000 more expensive.
I’ve always thought hi-end audio is utterly mad because it is so utterly inefficient in manufacturing, marketing, distribution and retail.
Ted’s story only proves the point. It is not unique, I believe the guy behind Wilson speakers started making speakers as a business/hobby and they were well into 6-figures per pair in the 1980s, and he had to work very hard to design a product that was affordable even to people with cash to burn.