Budget External DAC Recommendations


I just upgraded my Audioengine B1 Bluethooth receiver (using iTunes) to a Bluesound Node 2i (streaming Tidal Hifi) and the increase in sound quality is shocking.  It has me wondering if I can make another incremental increase in SQ by purchasing an external DAC.  Will a $400 - $500 DAC substantially best the DAC in the Bluesound Node 2i?

I am looking at the used market and have narrowed my choices down to (in no particular order):

- Chord Mojo
- Benchmark DAC-1
- PS Audio Digital Link III
- Denafrips Ares II

Which is the best? What else should I be considering? Also, for those who have heard the Node 2i's DAC, how does the DAC you recommend change the sound quality?

My system includes the Node 2i, Rogue Cronus Magnum and Totem Hawk speakers.

Thanks for any suggestions!
stewbombs
Will a $400 - $500 DAC substantially best the DAC in the Bluesound Node 2i?
Yeah, I’d say so.  I think the Gustard X16 at $450 new should significantly outperform the Node’s internal DAC — superior DAC chip, power supply, etc.  Best of luck.
I hadn't heard of Soekris but am looking into them now. 
All the DACs I listed are available used, except for the Denafrips Ares II, which seems hard to find. 
Is the consensus that one or all of the DACs I am looking at will result in better sound than the Node’s built-in DAC?
Might throw in the Peachtree iDAC. ESS 9016 Sabre implementation. Compared well with other $1K DACS of that day. Can be found for <$500.  Is an upsampling DAC
They also made the Sona DAC/Pre that was a 9018 and did DSD. Dont know what those go for used though
Replacing a pretty good DAC with a slightly better DAC seems like throwing good money after bad.  The Node 2 has a pretty decent DAC (with the qualifier "for the money"). 

The only thing that jumps to mind for me close to your price range is the Schiit Bifrost 2.  You could probably find a used one in your budget.  Better than the DAC in the Node 2, but it won't provide a dramatic increase in sound quality.  The Bifrost will have more detail and be a little "warmer".  

Sell the Node 2 and see if you can find a used TEAC NT-505.