Try Caiman II SEG
I have a RPi3 with a HiFiBerry Digi+ board connected to a Beresford Caiman II DAC modded to be similar to the latest SEG version. The sound is superb - analogue sounding - and certainly not bright, especially if you power both RPi and DAC by battery (which I do). It is also well within your budget at £239.99. Give it a go. I have also tried the Audiophonics I-Sabre DAC ES9023 V2 TCXO which is an RPi add-on that works with RPi2A/B&3. It is much cheaper and surprisingly good, also not bright, but lacks the detail, weight and depth that the Caiman II digs-out.
Last edited by Alp; 06-11-2016 at 11:34.
Cheers
Alastair
RPI4/PI2AES running PiCorePlayer/LMS-> AQ Carbon AES -> Topping D90 DAC-> Khozomo Passive Pre-Amp -> 4x Temple Audio Monoblocks powered by 2xLiFePO batteries->Van Damme Black Bi-Wired to B&W 804 Nautilus and Sommer Carbokab 225 Interconnects