Sennheiser · Open-back · 1985–1992

Sennheiser HD 540 Reference

Name: Sennheiser HD 540 Reference
Brand: Sennheiser
Availability: InStock

The HD 540 Reference was Sennheiser's open around-ear headphone from 1985 to 1992. It weighs about 207 grams and barely clamps, and the measurement site DIY-Audio-Heaven calls it possibly the most comfortable headphone ever made. It came in 300- and 600-ohm versions. The Reference Gold of 1987 to 1992 is the 600-ohm one, with felt rings that change the tuning and a wooden case, so it's more than a paint job. In 1992 the Reference II took over, with a little more bass and a little less treble. Its weak spot is the two-pin cup connector. A pair that cuts out usually needs its contact springs bent back into shape, not new drivers.

HD 540 Reference (300 or 600 ohms)HD 540 Reference Gold (1987–1992, 600 ohms)HD 540 Reference II (1992–1996)

Spec at a glance

Maker: Sennheiser
Type: Open-back
Made: 1985–1992
Impedance: 300 ohms; 600 ohms on early and Gold versions
Sensitivity: 97 dB at 1 mW (measured)
Driver: 38 mm dynamic
Fit: Around-ear, open
Weight: About 207 g without cable
Made in: Germany
Also listed as: HD540, HD-540 Reference, HD 540 Gold, HD 540 Reference II
Typical eBay ask (Oct 14, 2026): $220–$240

Before you plug in

What it needs, and what wears out

Drive it fromWants a headphone amp: At 300 or 600 ohms it wants a proper headphone amp rather than a phone. The 600-ohm Reference Gold needs more voltage than the 300-ohm version.
Pads: Replaceable hybrid pads, cloth on the sides and pleather where they touch your head. The pleather breaks down with age, and Sennheiser no longer sells them, but aftermarket pads fit, including velour ones.
Cable: Detachable 3 m cable that plugs into each cup with Sennheiser's two-pin connectors, ending in a 6.3 mm jack or a 5-pin DIN plug with a 6.3 mm adapter.

Should come with it

The two-pin cable (into both cups)
The wooden case, on a Reference Gold

Check the listing photos against this list, and ask the seller about anything you can’t see. A missing piece should come off the price.

What to check

Dropouts and crackle usually come from the two-pin cup connectors, whose metal contact springs lose their tension, and bending them back fixes it. The pleather on the pads breaks down with age.

01Dropouts: Ask the seller to play music and gently move the cable at each cup. Sound that cuts out there points to tired connector springs, a cheap fix.
02Version: Ask whether it's the 300-ohm, 600-ohm or Gold version. A Gold should show its gold finish and ideally the wooden case.
03Pads: Look at the pleather faces of the pads in the photos. Flaking pleather means new pads, which are easy to find.
04Cable: Check that the cable comes with it and plugs into both cups. A missing two-pin cable is replaceable but takes some hunting.
05Headband: Look at the pleather-covered headband pads. They should be whole, with no foam showing through.

New to used headphones? How to check a used pair covers pads, cables, channel dropouts and fakes, and impedance and your amp explains what will drive it.

Buying guide

Which one to buy

§ Oct 14, 2026

Only two HD 540s are for sale, both the Reference II of 1992 to 1996, so their $214 and $244 delivered asks aren't a market read. We'd take the one titled tested at $214 delivered, $30 under the other, from a 100% seller. The HD 540 came in 300- and 600-ohm versions, so ask for the label before you plan the amp, and either way it wants a proper headphone amp rather than a phone. Dropouts at the cups usually come from tired contact springs in the two-pin connectors, a cheap fix, so ask for a video with the cable moved at each cup, and check the pleather faces of the pads, which break down with age but have aftermarket replacements. Neither listing is the 600-ohm Reference Gold with its wooden case.

Listed now: 2
For parts: 0
Typical ask: $220–$240
Full range: $195–$235

Cheapest
$214.00est. delivered
The lower ask of the two Reference IIs at $214 delivered, and it's titled tested. The photo shows the two-pin cable plugged into the cup, so ask for a picture of the pads' pleather faces too.
Sennheiser HD 540 Reference II Audiophile Headphones, TESTED! NICE!
View on eBay ↗: Sennheiser HD 540 Reference II Audiophile Headphones, TESTED! NICE!$214.00 est. delivered
Best value
$214.00est. delivered
Titled tested and $30 under the other pair, from a 100% seller. Ask for a video with the cable moved at each cup, since dropouts there point to the connector springs.
Sennheiser HD 540 Reference II Audiophile Headphones, TESTED! NICE!
View on eBay ↗: Sennheiser HD 540 Reference II Audiophile Headphones, TESTED! NICE!$214.00 est. delivered

Delivered prices include shipping as eBay quoted it to a US address on Oct 14, 2026. Many sellers charge by distance, so your total may differ. eBay shows yours before you pay.

Snapshot

For sale on eBay

2 of 2 listed

Checked Oct 14, 2026. Some may have sold.

Delivered prices include shipping as eBay quoted it to a US address on Oct 14, 2026. Many sellers charge by distance, so your total may differ. eBay shows yours before you pay.

Used
- Cheapest
- Best value
Sennheiser HD 540 Reference II Audiophile Headphones, TESTED! NICE!
$214.00est. delivered
$195.00 + $19.00 shipping
Buy It Now$195.00
Offers accepted
This seller takes offers, and many sellers accept less than the asking price.
Fine if you might miss it? Send an offer first. Someone else can still buy it while you wait for a reply.
Want it for sure? Use Buy It Now.
Good buy
Reference II, titled tested.
Seller: 1931jared
100% positive
View on eBay ↗: Sennheiser HD 540 Reference II Audiophile Headphones, TESTED! NICE!
Used
Sennheiser HD 540 Reference II Audiophile Headphones Vintage Germany
$244.42est. delivered
$235.00 + $9.42 shipping
Buy It Now$235.00
Offers accepted
This seller takes offers, and many sellers accept less than the asking price.
Fine if you might miss it? Send an offer first. Someone else can still buy it while you wait for a reply.
Want it for sure? Use Buy It Now.
Our take
Reference II. Not titled tested. Photo shows the cable with a 6.3 mm jack.
Seller: frankyg1724
100% positive
View on eBay ↗: Sennheiser HD 540 Reference II Audiophile Headphones Vintage Germany

Prices change daily. The live eBay search shows everything listed now, including anything new since Oct 14, 2026.

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Brand

Type

Era

Read

Sennheiser HD 540 Reference

HD 540 Reference (300 or 600 ohms)HD 540 Reference Gold (1987–1992, 600 ohms)HD 540 Reference II (1992–1996)

Spec at a glance

Maker

Sennheiser

Type

Open-back

Made

1985–1992

Impedance

300 ohms; 600 ohms on early and Gold versions

Sensitivity

97 dB at 1 mW (measured)

Driver

38 mm dynamic

Fit

Around-ear, open

Weight

About 207 g without cable

Made in

Germany

Also listed as

HD540, HD-540 Reference, HD 540 Gold, HD 540 Reference II

Typical eBay ask (Oct 14, 2026)

$220–$240

What it needs, and what wears out

Drive it fromWants a headphone amp

At 300 or 600 ohms it wants a proper headphone amp rather than a phone. The 600-ohm Reference Gold needs more voltage than the 300-ohm version.

Pads

Replaceable hybrid pads, cloth on the sides and pleather where they touch your head. The pleather breaks down with age, and Sennheiser no longer sells them, but aftermarket pads fit, including velour ones.

Cable

Detachable 3 m cable that plugs into each cup with Sennheiser's two-pin connectors, ending in a 6.3 mm jack or a 5-pin DIN plug with a 6.3 mm adapter.

Should come with it

The two-pin cable (into both cups)

The wooden case, on a Reference Gold

Check the listing photos against this list, and ask the seller about anything you can’t see. A missing piece should come off the price.

What to check

Dropouts and crackle usually come from the two-pin cup connectors, whose metal contact springs lose their tension, and bending them back fixes it. The pleather on the pads breaks down with age.

01Dropouts: Ask the seller to play music and gently move the cable at each cup. Sound that cuts out there points to tired connector springs, a cheap fix.

02Version: Ask whether it's the 300-ohm, 600-ohm or Gold version. A Gold should show its gold finish and ideally the wooden case.

03Pads: Look at the pleather faces of the pads in the photos. Flaking pleather means new pads, which are easy to find.

04Cable: Check that the cable comes with it and plugs into both cups. A missing two-pin cable is replaceable but takes some hunting.

05Headband: Look at the pleather-covered headband pads. They should be whole, with no foam showing through.

New to used headphones? How to check a used pair covers pads, cables, channel dropouts and fakes, and impedance and your amp explains what will drive it.

Sennheiser HD 540 Reference

Spec at a glance

What it needs, and what wears out

What to check

Which one to buy

For sale on eBay