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I bet all of us pay full price in other retail environments which don't interest us as much. I have no doubt that I've been "overcharged" for curtains or car tyres in my time, but I just don't have the time to do that much homework.
I work on a simple formula based around what I could be earning if I wasted half a day researching every little purchase in my life.
"Take these three items, some WD-40, a vise grip, and a roll of duct tape. Any man worth his salt can fix almost any problem with this stuff alone." - Walt Kowalski
"Only two things are infinite - the universe, and human stupidity. And I'm not sure about the universe." - Albert Einstein
That is probably because a guitar tech rolled his eyes at me a few months ago after carefully examining the Stagg cable that I use with my vintage Gibson guitars and my "boutique" Tweed amp. I am still "not sure".
And yet with Hifi - I could hear it without difficulty. Especially the change from bell wire to budget half decent cable. The second change to good speaker cable was more subtle but still there. I still get people asking why there are 2 lengths of garden hose in my lounge.
"Take these three items, some WD-40, a vise grip, and a roll of duct tape. Any man worth his salt can fix almost any problem with this stuff alone." - Walt Kowalski
"Only two things are infinite - the universe, and human stupidity. And I'm not sure about the universe." - Albert Einstein
More specifically, it's a world of people saying (essentially) yes, well, the "laws of physics" are all well and good but there are more things in Heaven and Earth, audio-n00b, than exist in your philosophy - namely, mysterious stuff. Mysterious stuff that makes expensive cables sound audibly better. Of course, you have to have very discerning ears to hear it - we wouldn't expect you to understand. Look, here is a picture of an oscilloscope.
"Take these three items, some WD-40, a vise grip, and a roll of duct tape. Any man worth his salt can fix almost any problem with this stuff alone." - Walt Kowalski
"Only two things are infinite - the universe, and human stupidity. And I'm not sure about the universe." - Albert Einstein
It honestly doesn't matter what it is, but one thing they ALL contain is RS Stock No. 199-1418
"Take these three items, some WD-40, a vise grip, and a roll of duct tape. Any man worth his salt can fix almost any problem with this stuff alone." - Walt Kowalski
"Only two things are infinite - the universe, and human stupidity. And I'm not sure about the universe." - Albert Einstein
Also, I've had to sign (and stick to) Non Disclosure Agreements when working for "Hi-Fi" companies where the product is nothing but a fantastically expensive, deliberate, cynical rip-off. No "I can hear the difference, if you can't it's because you're not as finely-attuned as me", I'm talking about a completely empty box. Not diminishing returns so much as no returns whatsoever.
I've seen many times how effective the placebo effect can be, but charging £21,700 for two speaker leads (in one company's case) is a bit steep when that's all it is.