Graphics Cards Are Finally Selling For Less Than MSRP As Cryptocurrency Crashes

There is an increasing trend in miners selling their graphics cards after a significant drop in the value of Bitcoin and Ethereum (around 30 to 40 percent). These graphics cards are no longer profitable for miners to mine with. This puts some board partners in trouble as they already had an excess of GeForce RTX 30 and Radeon RX 6000 graphics cards and at the same time it gives gamers the choice to get their hands on new graphics cards.

Tom’s Hardware reports that this will create a clash between the retail and used markets and increase the influx of graphics cards, something similar to what happened in 2018. Now we’ll have to wait and see what the long-term future of the market holds after this massive crypto crash, but not everyone will continue to wait for Bitcoin to bounce back (even if it does).

Many bought the cards at a higher price and they are well aware of how profitability can change within seconds. These miners have no choice but to sell their cards.

A recent GPU market analysis by Tom’s Hardware shows that a large number of cards fall into the ‘green’ category, meaning they are below MSRP. Even if some cards try to withstand this pressure, like cards that fall into the upper mid-range of NVIDIA, they won’t be able to hold their fort for long as the used market can drop prices very easily.

In just two weeks, total retail GPU prices are down 2 percent. This is important because AMD’s Radeon RX 6000 series is already touching the MSRP. They won’t get any cheaper unless AMD itself announces it will cut prices.

This is where the used markets are not dependent on companies lowering their prices. Tickets are already being sold there below the suggested retail price. On eBay alone, prices have dropped an average of 10 percent, and it’s shocking that this average doesn’t even include the lowest prices. The Tom’s Hardware comparison also includes ‘Buy it now’, which lists the lowest prices on eBay that can be bought off without bidding.

There are some cards that are still sold at lower prices. Enthusiasts and miners sell six RTX 3080 cards as one package for $2,500, bringing the price of each card to just $417. However, it is important to keep in mind that this is not a general market condition; this is just one of the extreme examples that gives an idea of ​​what the market could look like in the coming days.

Via Tom’s Hardware

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