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The recent cryptocurrency crash creates a new opportunity for gamers to buy graphics cards at an even lower price.
As it is no longer profitable to mine with GPUs, miners are flocking to the used market with their GPU inventory
With Bitcoin and Ethereum losing 30%-40% of their value in the last week alone, miners are starting to sell their graphics cards as they are no longer profitable (enough) to mine with. This creates a new problem for board partners who already had a surplus of GeForce RTX 30 and Radeon RX 6000 graphics cards on hand, but also gives gamers much more choice to find new graphics cards.
Now this is where retail and the used market are colliding, resulting in a massive influx of graphics cards like we’ve seen in 2018, reports Tom’s Hardware. It is too early to tell how the market will react to this crypto crash in the long-term, but there are many miners unwilling to wait for Bitcoin to recover. Some miners, who have already bought the cards at a much higher price, know that profitability and ROI (return on investment) are now shrinking by the hour. The only choice they have is to sell their tickets now.
NVIDIA RTX 3080 finally falls under MSRP, Source: eBay
Tom’s hardware GPU market analysis shows that more and more cards are going “green”, which in this case means falling below the recommended retail price (MSRP). Some cards, mostly from NVIDIA’s upper mid-range segment, can still withstand the pressure, but here the used market can drag prices down.
Overall, retail GPU prices have fallen 2% in just two weeks, but that’s mostly because most AMD Radeon RX 6000 series are already selling at MSRP. They can only get cheaper if AMD announces a price cut.
The used market isn’t waiting for price drops, people are already selling cards below MSRP. On average, the price on eBay has fallen by 10% in 2 weeks, and that doesn’t even include the lowest prices. The Tom’s Hardware comparison also includes Buy It Now, which lists the lowest available eBay price that requires no bidding. These prices are of course lower than the average price listed in other columns.
Interestingly, some cards can still be purchased at even lower prices. Some scalpers/miners/enthusiasts (you name it) are selling six RTX 3080 cards in a box, all for $2500. That means each card only costs $417. But those are just extreme examples of what you can expect to see in the used market in the coming weeks.
| Graphics card prices in June 2022 in retail and second-hand markets | ||||||||
|---|---|---|---|---|---|---|---|---|
| Tom’s hardware | Officially RRP |
retail trade June 1st |
retail trade 15th June |
retail trade 15 days change |
eBay Buy It Now |
avg eBay June 1st |
avg eBay 15th June |
eBay 15 days change |
| Geforce RTX 3090 Ti | $2,000 | $1,900 | $1,800 | -5% | $1,670 | $1,829 | $1,672 | -9% |
| GeForce RTX3090 | $1,500 | $1,550 | $1,500 | -3% | $890 | $1,438 | $1,265 | -12% |
| Geforce RTX 3080 Ti | $1,200 | $1,000 | $1,000 | 0% | $850 | $1,134 | $1,000 | -12% |
| GeForce RTX3080 12GB | N / A | $800 | $870 | 9% | $840 | $959 | $936 | -2% |
| Geforce RTX 3080 | $700 | $800 | $770 | -4% | $641 | $899 | $743 | -17% |
| Geforce RTX 3070 Ti | $600 | $700 | $650 | -7% | $505 | $710 | $619 | -13% |
| Geforce RTX 3070 | $500 | $600 | $560 | -7% | $499 | $641 | $544 | -fifteen% |
| Geforce RTX 3060 Ti | $400 | $523 | $500 | -4% | $425 | $579 | $470 | -19% |
| Geforce RTX 3060 | $330 | $400 | $400 | 0% | $339 | $424 | $379 | -11% |
| Geforce RTX 3050 | $250 | $319 | $300 | -6% | $285 | $315 | $296 | -6% |
| Radeon RX6950XT | $1,100 | $1,070 | $1,070 | 0% | $1,200 | $1,600 | $1,270 | -21% |
| Radeon RX6900XT | $1,000 | $880 | $850 | -3% | $778 | $875 | $774 | -12% |
| Radeon RX6800XT | $650 | $790 | $770 | -3% | $570 | $767 | $637 | -17% |
| Radeon RX6800 | $580 | $700 | $700 | 0% | $568 | $655 | $575 | -12% |
| Radeon RX6750XT | $550 | $540 | $540 | 0% | $545 | $511 | $560 | 10% |
| Radeon RX6700XT | $480 | $485 | $480 | -1% | $400 | $477 | $410 | -14% |
| Radeon RX6650XT | $400 | $385 | $380 | -1% | $365 | $400 | $372 | -7% |
| Radeon RX6600XT | $380 | $370 | $360 | -3% | $270 | $350 | $309 | -12% |
| Radeon RX6600 | $330 | $300 | $290 | -3% | $277 | $290 | $274 | -5% |
| Radeon RX6500XT | $200 | $175 | $175 | 0% | $175 | $192 | $159 | -17% |
| Radeon RX6400 | $160 | $160 | $160 | 0% | $192 | $151 | $170 | 13% |
| AVERAGE | -2% | AVERAGE | -10% | |||||
Source: Tom’s Hardware
