The Audio-gd Reference One belongs in the high-end list without a doubt. If it were made in the U.S. or U.K. and had a nice chassis and fancy controls, it would be priced around $10K -- which is where the SQ lies compared to other DACs of that price.
Added Ref1.
Budget/Entry level:
------------------
Audio-gd Compass (2)
Beresford TC-7510 (1)
Beresford TC-7520 (2)
Beresford TC-7520 SE (Caiman) (1)
Cambridge Audio DacMagic (5)
EMU-0404 (1)
HRT Music Streamer+ (1)
iBasso D10 (1)
Keces DA-151mkII (1)
Little Dot DAC_I (2)
Maverick Audio Tube Magic (1)
MF VDAC (2)
Music Hall DAC 25.2 (heavily modded) (1)
RSA The Predator (1)
Mid-level:
---------
Audio-GD Dac19MK3 (1)
Benchmark DAC 1 (2)
CI Audio VDA-2 / VAC-1 (1)
Lavry DA10 (1)
MHDT Havana (2)
PS Audio DLIII (5)
Stello DA100 Signature (1)
High-End:
---------
Electrocompaniet ECD-1 (1)
Red Wine Audio Isabellina (1)
Wadia 521 (1)
Audio-gd Reference One (1)
Added Ref1.
Budget/Entry level:
------------------
Audio-gd Compass (2)
Beresford TC-7510 (1)
Beresford TC-7520 (2)
Beresford TC-7520 SE (Caiman) (1)
Cambridge Audio DacMagic (5)
EMU-0404 (1)
HRT Music Streamer+ (1)
iBasso D10 (1)
Keces DA-151mkII (1)
Little Dot DAC_I (2)
Maverick Audio Tube Magic (1)
MF VDAC (2)
Music Hall DAC 25.2 (heavily modded) (1)
RSA The Predator (1)
Mid-level:
---------
Audio-GD Dac19MK3 (1)
Benchmark DAC 1 (2)
CI Audio VDA-2 / VAC-1 (1)
Lavry DA10 (1)
MHDT Havana (2)
PS Audio DLIII (5)
Stello DA100 Signature (1)
High-End:
---------
Electrocompaniet ECD-1 (1)
Red Wine Audio Isabellina (1)
Wadia 521 (1)
Audio-gd Reference One (1)





















And price doesn't determine the quality of the DAC, it just gives you an estimate of where it might rank. Only listening to it and comparing it to other DACs will tell you just how high-end it really is. But many people feel that if it doesn't cost the price of a mid-range car, or if it is a DIY project it can't be high-end.... and to them I say "use your own ears to find out."
