The death of ultra hiend audio

I started buying HiFi in the 70’s. As I look at YouTube today and watch videos about gear that costs tens- and hundreds-of-thousands of dollars, I just laugh. And the best part is, the guy that’s selling this stuff is wearing a suit.

I contracted this 'Autiophile Disease' in my early college years (late 80s) and have followed the industry since. However, I have to say that I have never been as disgusted with pricing (all levels of gear) as I am today. The audio industry is capitalizing on this excellent economy, as any good business would, but when the merry-go-round stops, I'm not sure what's going to be left. 

This current economy is being propped up and is not as rosy as perceived. Jobs are becoming scarce, inflation is rising, and housing is all over the place. I hope the audio industry is ahead of this curve because when people can't pay their mortgage, they are not buying gear. The wealthy will have the resources, but even they economize during downturns. As for the majority of the market, it might be rough sailing if we enter a recession. 

There has always been stratosphere pricing in this industry, but as the baby boomers hit retirement they have done very well with the ponzi economy and now are splashing out on their hobbies and passions.

Not just audio, see classic cars from 60/70's as an example.

So there is now a large and increasing amount of audiophile brands doing low volume catering exclusively to this class.

But the wall is coming. It will start with the used market which is already struggling. By the 2040's all this ultra hi end gear will be flogged of for next to nothing in estate sales, like vintage wood furniture is now.

@agisthos 

I don't disagree with the tenor of your post; I only wish you were correct about vintage wood furniture being had for next to nothing.

The used market is a diverse thing. Vintage silver-face used gear is having its moment, selling for multiples of its MSRP in the 70's. This is a select slice of the market, attractive equipment with vintage slide rule tuners, balance, bass and treble adjustments, and enough auxiliary inputs to accept a modern DAC and streamer and a tuner preamp and one or two headphone jacks. Of course these were upper end of a mass-market brand production, not modern ultra high-end used gear which is priced very differently. Who can say how much longer any of that will last. Gear made in the 1980s and later is vulnerable to repair/replacement parts unavailability as ICs become obsolete and salvage parts become scarce. I suspect that except for brands like McIntosh and similar well-supported legacy brands, much of that period gear will be recycled and not restored. I once bought a legacy Luxman receiver, the ones with the Lucite panel buttons and the motorized receding faceplate. Even once-expensive gear like that couldn't find a market to service it.

Then there is the possibility of loss of whole technologies to factors yet unknown. Vacuum tubes are one of those technologies vulnerable to shifts in production even now. Imagine a future where power consumption of every household device might be sharply controlled and products like inefficient and heat-producing amplifiers might be heavily taxed or even outlawed. A desperate world where warming becomes an existential reality that cannot be ignored may impose such bans.