What's the most overrated or overpriced piece of equipment you own, have owned or come by?

I wasn't going to participate but I must strongly disagree with starboard, the Yggdrasil beats anything I have demoed in my home, including, Resolution Audio, Chord, dcs. To answer the original post, I hated a pair of Merlin VSMs I bought in 2001 fortunately traded with a guy for some Reynaud Offrandes that I loved, he preferred the Merlins, maybe Merlin guys wont like Shiit gear and vice versa?

My very first set of speakers, inexpensive Infinity towers (circa 1985) was unbearably bright--I wasted time & money trying to tame it. But from this came a key audio realization: know the sound you favor and build around it. I learned I favor deep, rich bass, expansive mid-bass, and pure midrange, and dislike bright, "revealing" highs. Now I know...

Ok, I own it, I use it but pound for pound for what it does and what components comprise its makeup...it is the most overpriced piece of gear I have....

my Okki Nokki record cleaner

I'm also disappointed with almost all my audiophile purchases. Being selling all of them off slowly and switching to cheap pro audio gears.

I owned Bose 901 speakers for many years. I enjoyed them and experienced many hours of musical pleasure listening to them. They do not compete with truly accomplished speakers, but they are far from the disasters that they are often made out to be.