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At US$325, this is above the US$334 75th percentile? No—by your comps it actually sits between the median of US$168 and the 75th percentile of US$334, so it reads as upper-end fair, not cheap. I’d call it a reasonable ask if the unit is clean and fully functional, but it’s not a bargain.
What makes it worth a look is the M400’s reputation as a very capable DAC: AK4499-based, MQA-capable, and generally regarded as a detailed, smooth-sounding desktop piece with plenty of spec-sheet appeal. At this price, the upside is mainly if it’s complete, well cared for, and includes the original remote, box, and power supply; if any of that is missing or the condition is vague, I’d press for a better number.
Independent perspective — not a price guarantee. Always verify condition, accessories and provenance before purchase.
MQA emerged in December 2014 from the innovative labs of UK-based Meridian Audio, founded by digital audio pioneer Bob Stuart. As a proprietary codec—Master Quality Authenticated—MQA was designed to deliver studio-master sound quality through efficient encoding, folding high-resolution audio up to 192kHz into standard 44.1kHz files while addressing perceived timing inaccuracies in digital playback. Meridian, renowned for its high-res contributions like the MLP format for DVD-Audio, spun off MQA as an independent company, MQA Limited, to champion this streaming-era solution.
Unlike traditional hi-fi hardware makers, MQA focuses exclusively on audio technology licensing rather than physical products like amplifiers, speakers, or turntables. Its core offerings include encoders for labels, decoders integrated into DACs, streamers, and apps, plus extensions like the Arya Bluetooth codec (formerly SCL6/MQAir) for wireless high-res transmission. Bluesound, NAD, and PSB products have prominently featured MQA decoding, embedding the tech into high-performance streaming DACs and amplifiers.
Positioned as a high-end niche player, MQA garnered initial acclaim for promising authenticated artist-intended sound but faced fierce debate over its claims of superior fidelity and lossless efficiency, dividing engineers and reviewers. After administration in April 2025, Lenbrook Industries—owners of NAD, PSB, and Bluesound—acquired its assets, signaling potential revival and renewed integration into premium hi-fi ecosystems for discerning streaming enthusiasts.
See all MQA listings on RADAR.
