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Well... yes and no. What I have here is an old Sigma, modded to the standard of the current Stax 404. It is a new design although it's never been commercially made. Here's the story.
The original Sigmas came out in 1977 (see photos of original model)
In 1987 Stax re-issued the Sigma to the high bias or "pro" standard, with a 580 volt bias versus 230 for the old model and with I believe more spacing in the diaphragms to allow greater excursion. The idea was to give the phones more dynamics, particularly with the upcoming arrival of digital recordings.
There was otherwise no basic difference between the original and the pro Sigmas and for some years after 1987, Stax would convert the originals to pro specs for a few hundred dollars.
I had 2 original Sigmas. After one became physically damaged I had it converted to "pro" spec. By this time only Stax Japan would do the modification.
A few years ago my last original Sigma developed serious faults, a bad cord and a broken headband and I put it away. This was no great loss since its amp, an SRA12S was also somewhat non-functional. Earlier this year I decided it was time to do something with them and to see if I could again persuade Stax to repair/mod them to "pro" standard before all the original parts were gone.
However, by now, Stax had moved on from the "pro" standard. All new phones are "pro" standard, but since 1998, with the advent of the Omega II, the new designs use thinner diaphragms as well. (The Sigmas were long out of production by now so there are no production models of a Sigma with these diaphragms.) (EDIT I have since discovered that the Sigma Pro uses the Signature driver which at 1 micron is the thinnest , ever made by Stax)
I contacted Stax Japan to see if they could mod the old Sigma up to the newest standard, basically a Lambda/404, i.e. 404 drivers and low capacitance cord. After some prodding they turned the job over to YAMASINC., the American distributor.
So the result is now warming up on a Stax SRM-3 amp in my office, (they will be used with a Stax 717 at home.)
My first impressions are that these phones sound just like what they are: a 404 in a Sigma enclosure. They have a somewhat peaky midbass characteristic of the Sigma (and due to its enclosure,) and the somewhat attenuated high frequency of the Sigma enclosure, but with a bit more treble at the very top and a bit more detail, than either the original Sigma or the Sigma pro ( and characteristic of the 404 diaphragms and cable.)
The plus factors for this design are the enhanced out-of-head/forward projection caused by the Sigma enclosure, which it obviously has in common with the older Sigmas, but with the detail and treble extension of a 404. What it doesn't have is the sometimes grating treble peak of the 404, due to the high frequency attenuation caused by the Sigma enclosure.
So is this truly a new model? Yes, as much as any new/upgraded model, such as in going from the Omega to Omega II or Lambda Nova to 404. Of course it is not and never was a production model, so you can't just go out and buy one. In fact, Tats the tech at YAMASINC told me they had not made one like this before. But presumably they would be willing to do it again if presented with an old Sigma to work with.
The basic conversion was a bit over $500.00, a bit more than the cost of getting a 404 from Japan these days. Since the headband (Stax calls it an "Arc assembly") also needed replacing it pushed the price up some more.
I have since also repaired the Stax SRA12s amp and bought an old original Sigma, so I now have three versions of the Sigma series.
I hope to give a more detailed comparison of these three Sigma designs and possibly compared to the 404 and lambda Nova in a week or so.
The original Sigmas came out in 1977 (see photos of original model)

In 1987 Stax re-issued the Sigma to the high bias or "pro" standard, with a 580 volt bias versus 230 for the old model and with I believe more spacing in the diaphragms to allow greater excursion. The idea was to give the phones more dynamics, particularly with the upcoming arrival of digital recordings.
There was otherwise no basic difference between the original and the pro Sigmas and for some years after 1987, Stax would convert the originals to pro specs for a few hundred dollars.
I had 2 original Sigmas. After one became physically damaged I had it converted to "pro" spec. By this time only Stax Japan would do the modification.
A few years ago my last original Sigma developed serious faults, a bad cord and a broken headband and I put it away. This was no great loss since its amp, an SRA12S was also somewhat non-functional. Earlier this year I decided it was time to do something with them and to see if I could again persuade Stax to repair/mod them to "pro" standard before all the original parts were gone.
However, by now, Stax had moved on from the "pro" standard. All new phones are "pro" standard, but since 1998, with the advent of the Omega II, the new designs use thinner diaphragms as well. (The Sigmas were long out of production by now so there are no production models of a Sigma with these diaphragms.) (EDIT I have since discovered that the Sigma Pro uses the Signature driver which at 1 micron is the thinnest , ever made by Stax)
I contacted Stax Japan to see if they could mod the old Sigma up to the newest standard, basically a Lambda/404, i.e. 404 drivers and low capacitance cord. After some prodding they turned the job over to YAMASINC., the American distributor.
So the result is now warming up on a Stax SRM-3 amp in my office, (they will be used with a Stax 717 at home.)
My first impressions are that these phones sound just like what they are: a 404 in a Sigma enclosure. They have a somewhat peaky midbass characteristic of the Sigma (and due to its enclosure,) and the somewhat attenuated high frequency of the Sigma enclosure, but with a bit more treble at the very top and a bit more detail, than either the original Sigma or the Sigma pro ( and characteristic of the 404 diaphragms and cable.)
The plus factors for this design are the enhanced out-of-head/forward projection caused by the Sigma enclosure, which it obviously has in common with the older Sigmas, but with the detail and treble extension of a 404. What it doesn't have is the sometimes grating treble peak of the 404, due to the high frequency attenuation caused by the Sigma enclosure.
So is this truly a new model? Yes, as much as any new/upgraded model, such as in going from the Omega to Omega II or Lambda Nova to 404. Of course it is not and never was a production model, so you can't just go out and buy one. In fact, Tats the tech at YAMASINC told me they had not made one like this before. But presumably they would be willing to do it again if presented with an old Sigma to work with.
The basic conversion was a bit over $500.00, a bit more than the cost of getting a 404 from Japan these days. Since the headband (Stax calls it an "Arc assembly") also needed replacing it pushed the price up some more.
I have since also repaired the Stax SRA12s amp and bought an old original Sigma, so I now have three versions of the Sigma series.
I hope to give a more detailed comparison of these three Sigma designs and possibly compared to the 404 and lambda Nova in a week or so.