Secrets of Home Theater and High Fidelity reviewed the NAD M33 V2 at the end of August, and quoted a price of 7,399 dollars. That number stopped me. The M33 V2 launched at 5,999 dollars in 2025. The original M33 launched at 4,999 dollars in 2020.
The NAD M33 and M33 V2 side by side
The M33 is one of the most compared amplifiers on this site. It sits in the top 10 percent of the 378 amplifiers and receivers we list by reader comparisons. So a lot of people are about to face the same choice: hunt down an M33, or pay for the V2. Here is what the extra money buys, using NAD's own spec pages for both.
Quick facts
- The M33 V2 lists at 7,399 dollars. It launched at 5,999 in August 2025, so that is 23 percent more in about a year.
- The M33 launched at 4,999 in 2020 and was last listed at 6,499. The V2 today is 48 percent over the M33's launch price.
- Rated power has not moved: 200 watts per channel into 8 ohms on both, in the same 435 x 133 x 396 mm, 9.7 kg box.
- The V2 changes are a newer amplifier module and DAC, balanced XLR outputs and a stronger headphone output.
- It is not just the M33. Eight NAD amplifiers we checked are 23 to 45 percent above their launch price.
What the V2 changes
NAD calls the V2 a step forward in signal processing, conversion and amplification. Put the two spec sheets next to each other and this is what is actually different:
| Spec | NAD M33 | NAD M33 V2 |
|---|
| Launch price | 4,999 dollars, 2020 | 5,999 dollars, 2025 |
| NAD list price today | 6,499 dollars | 7,399 dollars |
| Amplifier | Purifi Eigentakt | Second generation Eigentakt |
| DAC chip | ESS ES9028PRO | ESS ES9039PRO |
| Rated power, 8 ohms | 200 W | 200 W |
| Rated power, 4 ohms | 380 W | 380 W |
| Dynamic power, 4 ohms | 520 W | 560 W |
| Balanced XLR preamp outputs | No | Yes |
| Headphone output, 32 ohms | 100 mW | 300 mW |
| Timing processing | None listed | MQA Labs FOQUS and QRONO |
| Size and weight | 435 x 133 x 396 mm, 9.7 kg |
| Also on both | HDMI eARC, MM and MC phono, BluOS streaming, AirPlay 2, aptX HD Bluetooth, Dirac Live up to 500 Hz with microphone, two subwoofer outputs, 7 inch touch screen, two MDC upgrade slots |
The one change you can see is on the back. The V2 has a pair of balanced XLR preamp outputs next to the RCA ones. That matters if you want to add a power amplifier later, and NAD sells one to match: the M23 V2. Bridged together, NAD says the pair makes up to 700 watts per channel into 8 ohms.
Rear panels of the NAD M33 on top and the M33 V2 below
The headphone output is three times stronger on paper, 300 mW against 100 mW into 32 ohms. For anyone with hard to drive headphones that is a real upgrade. Most people will never plug in a pair.
The rest is inside the box. A newer Purifi amplifier module, a newer ESS DAC chip, and timing processing from MQA Labs, which belongs to Lenbrook, the same group as NAD. None of those change a number on the spec sheet you can compare. Continuous power, clipping power (210 W) and bridged power (700 W) are identical. Only the short term dynamic figure rises, from 520 to 560 watts into 4 ohms, which is about 8 percent.
| FEATURE and SPECS COMPARISON | |  |  |
| Model | NAD Masters Series M33 | NAD Masters Series M33 V2 |
| Type | Integrated Amplifier | Integrated Amplifier |
| Amplifier Class | Class D | Class D |
| Power into 8 ohms | 200 watts | 200 watts |
| Power into 4 ohms | 380 watts | 380 watts |
| Minimum Impedance | 4 ohms | 4 ohms |
| THD | 0.003% | 0.003% |
| Signal to Noise Ratio | 120 | 120 |
| Frequency Bandwidth | 20 Hz-20 kHz | 20 Hz-20 kHz |
| Built-in DAC | | |
| DAC | 32-bit/384kHz ESS Sabre | ESS ES9039PRO |
| Max Bit Depth | 24 | 24 |
| Max Sample Rate | 192 | 192 |
| Analog Inputs | 2 | - |
| Phono Input | | |
| Phono Type | MM,MC | MM,MC |
| Optical Digital Inputs | 2 | 2 |
| Coaxial Digital Inputs | 2 | 2 |
| USB Input | Yes | Yes |
| HDMI Input | Yes | 1 |
| HDMI ARC | eARC | eARC |
| XLR Input | - | 1 |
| Preamp Outputs | Stereo RCA, Sub | Yes |
| Subwoofer Output | 2 | Dual |
| Headphone Output | 1/4 | 1/4 |
| Bluetooth | Yes | Yes |
| Wi-Fi | 802.11ac | 802.11ac |
| AirPlay 2 | | |
| Chromecast built-in | | |
| Roon | Ready | Ready |
| BluOS | | |
| HEOS | | |
| Room Correction | Yes | Dirac Live |
| Room Correction System | Dirac Live (Lite version included, can be upgraded to full for $99) | Dirac Live Limited Bandwidth (to 500 Hz) included; full range and Bass Control are paid |
| Tone Controls | | |
| Handheld Remote | | |
| Height | 134.0mm | 133.4mm |
| Width | 435.0mm | 435.0mm |
| Depth | 448.0mm | 447.7mm |
| Weight | 9.73kg | 9.71kg |
| MSRP | 6499 USD | 7399 USD |
| Check Current Price | Amazon, B&H Photo | Amazon, B&H Photo |
The price, twice
Here is the odd part. When NAD announced the V2 in May 2025, eCoustics reported it at 5,999 dollars, while the original M33 was selling for 6,499. For a while the new model was 500 dollars cheaper than the old one.
That did not last. NAD's own store now lists the V2 at 7,399 and the old M33 at 6,499. The V2 went up 1,400 dollars in about a year, and it is now 900 dollars dearer than the M33 it replaced.
The M33 took a similar road. It shipped in July 2020 at 4,999 dollars, according to eCoustics at the time, and ended at 6,499. That is 30 percent over its life, and the V2 now starts from where the M33 finished.
The NAD M33 V2 with its 7 inch touch screen
It is the whole range, not just the M33
So I checked every NAD amplifier where I could find a launch price from the time. Launch prices are from eCoustics' launch reports. Today's prices are from nadelectronics.com, read on 18 September 2026, and none of them is a sale price.
| Model | Launched | Launch price | NAD list today | Change |
|---|
| NAD C 700 V2 | 2024 | 1,599 | 1,999 | +25% |
| NAD C 389 | 2022 | 1,499 | 1,999 | +33% |
| NAD C 399 | 2021 | 1,995 | 2,899 | +45% |
| NAD M10 V3 | 2024 | 2,499 | 3,199 | +28% |
| NAD M23 | 2022 | 3,499 | 4,799 | +37% |
| NAD M23 V2 | 2025 | 3,999 | 4,999 | +25% |
| NAD M33 | 2020 | 4,999 | 6,499 | +30% |
| NAD M33 V2 | 2025 | 5,999 | 7,399 | +23% |
Every one of the eight is up by at least 23 percent. The two newest, the M23 V2 and M33 V2, both gained 1,000 dollars or more within about a year of launch. NAD has not said why, and I am not going to guess at it here.
Being straight about our own data: our M33 V2 page carried a 2023 date for a product that went on sale in August 2025, and it was missing the HDMI eARC and Dirac Live entries the M33 page already had. Our M33, C 399, C 389, C 700 V2 and M10 V3 pages still showed launch prices. All of that is corrected.
NAD launch prices against NAD list prices today
Where the M33 V2 is hard to justify
If you already own an M33, there is little here for you. Same power, same box, same inputs, same streaming, same room correction. The reasons to change are XLR outputs for a power amplifier, or a lot more headphone power. Both are niche.
The watts did not grow with the price. 7,399 dollars buys the same 200 watts per channel that 4,999 bought in 2020. Our own M33 V2 page works out at 37 dollars per watt, against 25 at the M33's launch price.
Dirac Live stops at 500 Hz out of the box. Both models ship with the Limited Bandwidth licence and a microphone. Full range correction and Dirac Live Bass Control for subwoofers are paid extras on top of 7,399 dollars.
The spec sheets are hard to compare in places. NAD measured the phono and preamp noise figures at different output levels on the two sheets, so those numbers look different without telling you which is quieter. The size and power figures above are like for like.
Both read as sold out on NAD's own store. That does not mean discontinued. NAD sells through dealers, and the store points you to them. But it does mean the M33 at 6,499 may be a price you cannot actually pay any more.
NAD Masters Series M33 V2 Key Specs
- 200W into 8 ohms, 380W into 4 ohms (Class D)
- Integrated Amplifier
- Minimum Impedance: 4 ohms
- 0.003% THD
- Signal to Noise Ratio: 120dB
- Frequency Bandwidth: 20 Hz-20 kHzHz
- Built-in DAC: ESS ES9039PRO
- Max Bit Depth: 24
- Max Sample Rate: 192
- Phono Input (MM,MC)
- 1 HDMI Input
- 1 XLR Input
- Dual Subwoofer Output
- 1/4 Headphone Output
- Bluetooth
- 802.11ac Wi-Fi
- BluOS
- Ready Roon Ready
- Dirac Live Room Correction
- Weight: 9.71 kg
- Dimensions (H x W x D): 133.4 x 435.0 x 447.7 mm
- Replaces the NAD Masters Series M33 compare them
- Read the Review
What readers compare it with
On this site, readers put the M33 next to the NAD C 399 most often, then the Naim Uniti Nova, NAD's own M10 V2 and the Primare I35 Prisma. The V2 is too new here to have its own pattern yet.
The C 399 comparison is the interesting one now. It has less power, 180 watts against 200, and no BluOS streaming unless you add NAD's plug-in module. But at 2,899 dollars it is 4,500 dollars less than the M33 V2.
Questions answered
What is the difference between the NAD M33 and M33 V2?
The V2 uses a second generation Purifi Eigentakt amplifier, a newer ESS ES9039PRO DAC and timing processing from MQA Labs. It adds balanced XLR preamp outputs and a stronger headphone output, 300 mW against 100 mW into 32 ohms. Rated power, size, weight, inputs, streaming and room correction are the same.
How much does the NAD M33 V2 cost?
NAD's own store lists it at 7,399 dollars. It launched at 5,999 dollars in August 2025, so the list price has risen 23 percent in about a year.
Is the NAD M33 V2 more powerful than the M33?
No. Both are rated at 200 watts per channel into 8 ohms and 380 watts into 4 ohms, with 210 watts clipping power and 700 watts bridged. Only the short term dynamic figure rises, from 520 to 560 watts into 4 ohms.
Should I upgrade from the M33 to the M33 V2?
Only if you need balanced XLR outputs for a power amplifier, or more headphone power. Otherwise the two do the same job, with the same inputs, streaming, Dirac Live and power.
Has NAD raised its prices?
Yes, across the range. Eight NAD amplifiers we checked are 23 to 45 percent above their launch price on NAD's own store, from the C 700 V2 at 1,999 dollars to the M33 V2 at 7,399.
So which would you do: pay 7,399 for the V2, chase down an M33, or ask whether a C 399 at 2,899 does most of the job?