Sugarbrie is correct. Your preamplifier's natural state would be to have the volume control all the way up. Any setting lower than that is attenuating the output from where it wants to be.
The position of the volume control is also meaningless. Where you end up is a function of the relationship between the source/signal you are listening to and the preamp's gain combined with amplifier and speaker sensitivity. Volume position can be radically different for each source. For example: if you have a low output MC phono cartridge (as I do) you may find that on some records you can "peg" your preamp's volume without getting as loud as you would like. And that is perfectly fine.
With older preamps that use a potentiometer for volume control, the higher up the pot, the better the sound because the pot is an impediment in the signal path and at higher settings you are listening to less of the pot. Many modern preamps (like the ARC SP16 mentioned) no longer have a pot in the signal path, but instead use a reistor network or ladder that provides nearly identical performance at any volume setting.
The position of the volume control is also meaningless. Where you end up is a function of the relationship between the source/signal you are listening to and the preamp's gain combined with amplifier and speaker sensitivity. Volume position can be radically different for each source. For example: if you have a low output MC phono cartridge (as I do) you may find that on some records you can "peg" your preamp's volume without getting as loud as you would like. And that is perfectly fine.
With older preamps that use a potentiometer for volume control, the higher up the pot, the better the sound because the pot is an impediment in the signal path and at higher settings you are listening to less of the pot. Many modern preamps (like the ARC SP16 mentioned) no longer have a pot in the signal path, but instead use a reistor network or ladder that provides nearly identical performance at any volume setting.