A superb stereo tube amplifier, orginally 120 wpc but this one has been factory upgraded with the new KT120 tube complement raising output to 130 wpc. Current tubes have about 450 hours only, many years left! Soundstaging, slam, timbre, and resolution are truly a marvel. Meticulously maintained in a smoke free home, powering a pair of wood Quatros, this is a GREAT tube amp. When I inquired about upgrading to the REF 110 two years ago my dealer told me to forget it, the VS115 is simply too close to the REF 110 to make it worthwhile. To be shipped in original factory carton with foam tube protectors. The only reason I cannot rate this a 9/10 is that it cannot meet the "very light use" standard! Original price was $6495, tube upgrade is estimated to be $500. One owner. Will accept PayPal +2%, money orders, certified check.