GPU selloff begins, prices below MSRP

[sounds]

Summary

Crypto is down enough that miners are selling on eBay at below MSRP. If you want a 3080, and you're savvy enough to avoid the scams, you might want to take a look.

 

Quotes

Quote

GPU prices dropped 15% in May, and we've seen similar 10–15% drops each month for the past several months.

 

RTX 3080 ... now going for less than $650 on eBay, and we've seen listings selling groups of six RTX 3080s for as little as $2,500 — $418 each!

 

Retail prices aren't falling quite as fast as the used market on eBay (see below), but we're still tracking a 2% drop in the past two weeks

 

My thoughts

I think these good prices will last through September when stock runs out before the holiday season; prices may swing up or down a bit, so no need to start hoarding and scalping these, please!

 

Sources

https://www.tomshardware.com/news/graphics-card-prices-update-june-15

https://www.gamesradar.com/buy-rtx-3080-price-stock/

[SupaKomputa]

this is the moment i've been waiting for, it's time to get rid of my 580 - 2018 crash card.

waiting for a $300 3070/80.

[LAwLz]

lol at Tom's hardware saying it is because of the mining crash, while in the sentence before says they have seen a steady decline of about 10-15 every month for several months. 

 

I don't really see how they can attribute the price decrease to a crypto crash if they have seen the same thing happen over and over without the crypto market crashing. 

They are also bringing up things like how bitcoin prices are down, which is completely irrelevant to GPU prices because since they are not used to mine bitcoin. 

 

 

Anyway, with Russia restricting exports of noble gases I fear that pricing might soon increase again. 

[SupaKomputa]

17 minutes ago, LAwLz said:

They are also bringing up things like how bitcoin prices are down, which is completely irrelevant to GPU prices because since they are not used to mine bitcoin. 

 

BTC price is very relatable for the whole crypto space, including Ethereum.

Miners usually kept their bounty coins, but in the event of too much pressure, they will eventually sell them, or cutting inventories like old(er) gpus.

[porina]

Used pricing below MSRP is not a big thing. New pricing below MSRP would be. Still got some way to go there.

[GhostRoadieBL]

I'm still seeing $350-400 1650's on ebay, this price reduction will continue to work well for some markets (Canada isn't seeing the reductions outside of new cards)

[Fasterthannothing]

6 hours ago, LAwLz said:

lol at Tom's hardware saying it is because of the mining crash, while in the sentence before says they have seen a steady decline of about 10-15 every month for several months. 

 

I don't really see how they can attribute the price decrease to a crypto crash if they have seen the same thing happen over and over without the crypto market crashing. 

They are also bringing up things like how bitcoin prices are down, which is completely irrelevant to GPU prices because since they are not used to mine bitcoin. 

 

 

Anyway, with Russia restricting exports of noble gases I fear that pricing might soon increase again. 

Saying Bitcoin prices are irrelevant to GPU prices just show how little you understand crypto. The value of all other coin's still are tied to Bitcoin. If Bitcoin drops so does everything else.

[TetraSky]

1 hour ago, GhostRoadieBL said:

I'm still seeing $350-400 1650's on ebay, this price reduction will continue to work well for some markets (Canada isn't seeing the reductions outside of new cards)

Yeah, ebay prices for GPUs have been weird for a while now in Canada. They often sell used GPUs for more than what it cost to buy a brand new one of the same model. I don't understand this. Is it still being bought out by bots?

[LAwLz]

2 hours ago, SlidewaysZ said:

Saying Bitcoin prices are irrelevant to GPU prices just show how little you understand crypto. The value of all other coin's still are tied to Bitcoin. If Bitcoin drops so does everything else.

Can you please explain it to me then since I understand so little.

Are you suggesting that bitcoin prices are the only thing that matters because if it goes up, so does all other crypto currencies, and if it goes down, so does all other currencies?

 

 

Anyway, even if we assume that that's true, I think it is silly to say prices are dropping because of the crypto crash when at the same time saying there have been several consecutive months with the same price decline trends, even in months where the price of crypto currencies went up.

 

If prices of GPUs have been steadily going down for several months, and the price of crypto currencies have fluctuated, then it would be foolish to go "it's because of the crypto crash!" as soon as the trends align with one another, and just ignore the times where they don't align.

If they are related shouldn't they match each other all the time? Not just sometimes, seemingly at random?

 

There is a phenomenon called "apohenia". It's a term for the human tendency to perceive meaningful connections between unrelated events. I feel like there is a lot of that going on when discussing the impact of crypto currencies on GPU prices.

A few threads ago when discussing this someone tried to prove that there was a correlation between GPU prices and Ethereum prices, only to discover that it was only true in a few cases, and in quite a few cases he found an inverse relationship (GPU prices went down as the price of crypto went up).

 

Of course, all of these instances were quickly dismissed as "well, in this particular instances crypto miners stopped buying cards because they expected the prices to fall, and in this instance X happened so we should ignore that". At that point it felt like talking to some religion person who will dismiss any evidence contrary to their predefined conclusion.

 

Either there is a relationship and in that case we should be able to see it clearly on graphs. Or there isn't a relationship and the prices of both things are heavily influenced by several external factors such as lockdowns in China, issues with shipping, restricted exports from Russia, fluctuating demand from customers, and like 20 other external factors I probably don't even know about which causes supply and demand to constantly shift.

[tikker]

15 minutes ago, LAwLz said:

Can you please explain it to me then since I understand so little.

Are you suggesting that bitcoin prices are the only thing that matters because if it goes up, so does all other crypto currencies, and if it goes down, so does all other currencies?

Actually yes. Cryptos have been rather closely tied to Bitcoin regarding overall performance. If you go on e.g. Binance and compare how various things have performed you see that, with some variation, the majority follows more or less the same trend as Bitcoin, just scaled:

 

The rest I agree with. A steady long-term decline in pricing and a sudden crypto crash being the cause don't rhyme.

[SolarNova]

Prices below MSRP , while nice to see, are nothing to be to happy about. They are still to expensive. Why? becouse the MSRP was to high in the 1st place.

 

Once you start seeing 3080ti's at ~$500 .. thats when you say things are 'normalizing'.

 

Remember these are 'used' cards, at the end of the cards generation, the 3080ti ,as a X80ti card, is also historically a $700 card, not a $1000+, at MSRP.

 

3080ti's in the UK are still selling used for anything between £700 and £1000.

 

So great ...below 'MSRP' now ...but not enough ..not by a long shot.

 

We've got an easy 20 years of GPU pricing history we can easily look back at, and add inflation, that still doesnt account for the prices hikes introduced with the 20 series, and the 30 series, and likely the upcoming 40 series.

 

Dont praise the situation.....ur a frog in a bowl of water thats been heated up slowly over the last 5 or so years.. ..its boiling ! realize it !.. jump the fk out !.

[05032-Mendicant-Bias]

We had a long discussion before on ETH and GPU price correlation. My models remains predictive. ETH prices down->GPU prices down.

 

[Quackers101]

while some of the prices still suck.

it's weird to see some cards being 10-20% lower in price now.

where some 3070's can be similar price to 3060ti. while the other cards don't change price (for now). and might be sort of similar other places.

Just a wild *** market.

[Tan3l6]

The GPUcalypse is nigh!

[SupaKomputa]

On 6/17/2022 at 9:59 PM, 05032-Mendicant-Bias said:

We had a long discussion before on ETH and GPU price correlation. My models remains predictive. ETH prices down->GPU prices down.

 

ETH POS will put the nail in the coffin. probably worse than 2018.

[wamred]

Finally! The high prices can't last forever!

[Montana One-Six]

I still payed less for my 3080Ti in September last year compared to today's price. I got that card for an absolute steal back then but as long as I can see the same card selling for more than what I paid for almost a year ago I wouldn't be all that optimistic, especially not for next gen prices.

[05032-Mendicant-Bias]

On 6/18/2022 at 7:16 PM, SupaKomputa said:

ETH POS will put the nail in the coffin. probably worse than 2018.

Currently the ETH mining network benefits immensly from high transaction fees, and has the power to delay the difficulty bomb as much as they want. I'm not holding my breath on ETH ever switching to PoS.

PoS also make the network vulnerable to DDoS attacks, the kinds that consistently make the Solana network crash, and makes mining even more explicitely elitists by requiring 32ETH to stake, meaning ETH miners might not be keen taking the risk of making their network worse, andmight want to delay the switch even longer.

Below an example of a transaction during one of the frequent ETH gas wars waged by bots bidding for items listed below market prices, or gas fees during mint of popular NFT collections (in this case it was one of BAYC many found rising).

[Lightwreather]

57 minutes ago, 05032-Mendicant-Bias said:

requiring 32ETH to stake

That is if you're planning to stake solo,

There are akready pools for staking and each with varying amounts of entry but they also come with a certain amount risk, since well, you're trusting them with your cash.

Else I generally agree with you

[05032-Mendicant-Bias]

Videocardz reports more influx of used GPUs from china, this ought to keep the downward pressure on prices going:
https://videocardz.com/newz/crypto-crash-forces-miners-to-sell-hundreds-of-graphics-cards-during-livestreamed-auctions

[iicebear]

On 2022/6/17 at PM1点37分, SupaKomputa said:

这是我一直在等待的时刻，是时候摆脱我的 580 - 2018 崩溃卡了。

等待 300 美元的 3070/80。

In China, you can even buy a 3080 graphics card for only $100. Usually, it can be used normally, but its lifespan depends on the luck of the buyer

[SADS]

Ugh bought a card less that 2months ago and I think I'm already starting to see it on offer now as well.

It was part of a bit of a system overhaul after not upgrading for a long time, so i'll be keeping these bits for a good while now anyway most likely.

 

Oh well, can't win em all! I'm not going to lose too much sleep over it.

[BuckGup]

Nah Nvidia controlled the supply as the 4080s are about to be released 

[Quackers101]

3 hours ago, BuckGup said:

Nah Nvidia controlled the supply as the 4080s are about to be released 

price go down, then up again to match just below their new cards which are tried to be priced higher. (no market manipulation lol)

something nvidia would do, and did before. amd a little but not as bad.

[Guest]

The GPU prices here aren't yet climing down, but I'm just about to expect one within months.