"The next production of Ref 3.1s would have had to retail at over $4500/pr for an unchanged product. The thought of discontinuing this speaker was very upsetting to us. So Anthony dug in to find an alternative. Enter the new Ref 3.5. There are added material costs which necessitate a $6000/pr retail. This includes—but is not limited to—a very expensive Dynamicap TRT Stealth bypass capacitor as well as a new composite base and new aluminum cone woofer.

"The new bezels between the midrange drivers and their spheres are machined stainless steel with a gasket to isolate vibration and keep a tight seal. This mandates a far more elaborate QC procedure to insure that all drivers are critically torqued before each speaker leaves our Chatsworth facility. There is an updated CDTIII tweeter which is the single most expensive driver in the whole product. If the major tooling hadn't already been paid for, we'd probably have shut down production on this Reference product now."