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Faulty CD player

About 3 years ago I bought a Cyrus 6 CD player. This is supposed to be a top quality deck which retails at £600. About a year ago it developed a random fault and wouldn't read CDs giving a 'no disc' message. I returned it to my local Cyrus dealer who said that to repair it would cost £50 but it could be upgraded for £100 which would also fix the problem. I took up the £100 option. The player was returned to me last March and for a time worked perfectly but has now developed the same fault again.

I will contact the dealer this week to get them to return it to Cyrus and would expect it to be fixed for free.

My question is whether I have any rights beyond merely asking for the player to be repaired again. If I pay this sort of money for such an item, I really expect the manufacturers to stand up for their product and if necessary replace it. I have a Gucci watch which developed a fault after 10 years and they fixed it for free. Is it too much to ask Cyrus to do something similar?
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