The psychophysical relations between loudspeakers’ frequency response and their perceptual properties were investigated. The frequency response of 18 high‐fidelity loudspeakers was measured in three different conditions: in free field, in reverberation room, and in the listening room itself. The perceptual data consisted of experienced listeners’ ratings of the same loudspeakers in seven scales: clarity, fullness, spaciousness, brightness, softness, absence of extraneous sounds, and fidelity (Gabrielsson and Lindström, 1985). Hypotheses concerning the psychophysical relations were stated on the basis of results from earlier listening tests. The relations obtained with measurements in the listening room showed better agreement with the hypotheses than those obtained by measurements in free field or in reverberation room.