A long time ago when I was much into wasting money, I bought things like $2K DAC, $4K CD players, and $1K speaker cable.
The $22K Revel, $18K KEF, $15K B&W, $10K Linkwitz speakers, etc. came later, but that's another story.
Then one day, I compared the $2K DAC vs my $500 Sony DVD player (playing CD) and found out that it sounded the same.
Then later I took it further and compared the $2K DAC vs $100 Sony DVD player (playing CD) and $400 AVR and found that it sounded the same.
Then I read the Audio Critic and it all made perfect sense.
Don't waste your money on external DAC. Spend your money on speakers.
So I sold my $2K DAC, $4K CD player, and $1K speaker cables.