Used GPU prices have plummeted - Value returns to the GPU market
Miners are selling up, and that has oversupplied the used GPU market
Published: 16th June 2022 | Source: eBay Listings |
Used GPU prices have plummeted, and its only a matter of time before this impacts new GPUs
eBay, Facebook Marketplace, Gumtree, and other websites that deal in used products are now filled with graphics cards. The value of Bitcoin and Ethereum are decreasing, and rising electricity costs have made cryptocurrency mining less and less profitable. Now, cryptocurrency miners are selling off their hardware and cutting their losses, resulting in a flood of used graphics cards entering the market.
Today, we have found graphics cards on eBay that are well become their official MSRPs. The era of GPU scalping is over, and used GPU prices have fallen far below the pricing of GPUs at retailers.
Currently, GPUs are sitting on store shelves, and manufacturers are ow re-introducing game bundles to help increase demand. Even with that, GPU sales are slowing down, and the huge number of graphics cards on the used market is placing downward pressure on new GPU prices. It is only a matter of time before new GPU prices are further reduced if current trends continue.
On eBay, we found a ZOTAC Gaming RTX 3080 Trinity OC 12GB for £532. New, this graphics card costs £899.99 at Overclockers UK, highlighting how far GPU prices have fallen when compared to retail prices.
On the higher-end of the market, we have found an RTX 3090 Founders Edition with a buy it now price of £950. That's almost £500 below Nvidia's MSRP, and it is worth noting that auction pricing is often below this value. That's how far GPU prices have fallen within the used market.
As it stands, the used market is where the value is within today's GPU market. That said, many of these GPUs will have had a hard life mining, and many sellers of these used graphics cards have no feedback, giving purchasers little reason to trust many of these used GPU sellers. If you are willing to take a risk, today's used GPU market could reward you with some excellent graphics cards at gloriously low prices. That said, it cannot be denied that the used GPU market is a risky place after a crypto crunch.
Given the sheer volume of graphics cards on the used market, it is only a matter of time before new GPUs start to lower in price. Today's used prices are simply too appealing, and GPU manufacturers need to sell their products. The Nvidia RTX 40 series and AMD RX 7000 series are due to launch this year, so it is only a matter of time before companies start offering dramatic price reductions to remove stock from store shelves.