GPU Prices 2023: July Update

Our GPU price index tracks all the best graphics cards and the latest additions to our GPU benchmarks hierarchy. This is the bi-weekly update (give or take) for the middle part of July. Thanks to the drop in Ethereum mining profitability and China's crackdown on large-scale mining operations, GPU prices continue to trend downward, though the rate of decline is decreasing.

It's not all good news, either (maybe). The total number of units sold for the various GPUs decreased on nearly every GPU, the exceptions being the RTX 3060 Ti and RX 6700 XT. But modest increases for those two can't offset the reduced numbers everywhere else, and compared to the start of the month in our last update, about 700 fewer cards were sold on eBay. But maybe that just means the profitability of trying to scalp on eBay has dropped, and that's why unit sales are down? After all, Best Buy did in-person store sales at a lot of locations earlier this week.

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All of the GPUs averaged lower prices during the past two weeks than in the previous period, but in most cases the difference was relatively small — the average decrease in price was 3.6%. Interestingly, the two cards that showed the greatest decline in prices also happen to be the cards that showed increases in number of GPUs sold. The RTX 3060 Ti average price was down 9.3%, falling below $1,000 for the first time in ages, and the RX 6700 XT price dropped 5.6%. If you don't care about ray tracing or DLSS, the RX 6700 XT remains by far the best bang for the buck, as it generally outperforms the 3060 Ti while costing over $250 less.

As we've noted before, using eBay for this price tracking does have a lot of caveats. The fact that Nvidia has now released LHR (Lite Hash Rate) versions of all GPUs other than the RTX 3090 (and discontinued the non-LHR models), combined with the drop in mining profitability, means miners are unlikely to pay exorbitant prices. Which means everyone trying to turn a profit on eBay might end up disappointed. Let's hope so, though the scalpers appear to have moved on to Steam Deck pre-orders now.

The RTX 3070 Ti pricing in particular stands out as a bit odd. We weren't massively impressed with the performance, efficiency, and price, but it's still a faster card than the RTX 3070 — for gaming, anyway. The fact that it averaged only 3% higher prices on eBay suggests the people buying GPUs are still primarily motivated by mining. That would also explain the $600 price premium for the 3090 over the 3080 Ti, as it's barely faster in games buy nearly doubles the Ethereum hashing speed.

With the now lower prices, the average markup across all GPUs has slipped below 2.0x (it's 1.9x), but AMD's GPUs are still clearly the better buy in terms of value. Nvidia's RTX 3080 and RTX 3060 Ti remain the worst deals, at least when comparing eBay pricing to MSRPs. Actually, about half of the Nvidia cards are still over twice the MSRP, while none of the AMD cards are more than twice the MSRP. AMD also sold a larger portion of the eBay pot this round, 14.8% of the total compared to 12.6% for the last update.

Clearly, there's still a long way to go before we're back to normal pricing, and we can only recommend potential buyers continue to wait. We could probably condone paying 20% more than MSRP, for people that really want to upgrade or need a new GPU, but paying 50% to 150% above the MSRP is simply too much, even if the MSRPs are red herrings.

Weekly Summary: Deploy the Parachute

GPU Price Index: deploy the parachute on a Mars rover

(Image credit: Shutterstock)

The excitement over falling GPU prices was perhaps a bit premature in our last update. They're no longer in freefall, having deployed a parachute to slow things down. We figured that would happen, but it's still disheartening. Then again, one of our members managed to snag an RTX 3060 Ti in the UK at MSRP, and European prices in general seem to be far better than what we're seeing in the US. Let's hope we can catch up in the coming weeks.

Online retail inventory for the US also remains incredibly limited. None of the cards that are in stock on Newegg, Amazon, or other sites are even close to MSRP, and some smaller online sites now actually have worse prices than eBay. Sure, you'd be getting a new card, but no one should be spending $1,000 for an RX 6700 XT or $2,000+ for an RX 6900 XT. Again, wait until the card you want actually has a reasonable price before picking it up.

We'll be back in a few more weeks to see if the current trends continue. In the meantime, flip to the next page for a look at historical charts and data.

Jarred Walton

Jarred Walton is a senior editor at Tom's Hardware focusing on everything GPU. He has been working as a tech journalist since 2004, writing for AnandTech, Maximum PC, and PC Gamer. From the first S3 Virge '3D decelerators' to today's GPUs, Jarred keeps up with all the latest graphics trends and is the one to ask about game performance.

  • Kridian
    "The most desirable cards are now selling for close to triple their official launch prices."And THAT my friends, is why we don't buy sh*t on eBay (aka: Scalper's Haven).
  • Exploding PSU
    Me blindly buying a second-hand Vega 56 above MSRP years ago didn't look so bad now
  • Sat32
    This scalping <Mod Edit> needs to end and Nvidia, ASUS, EVGA, MSI, Sony could stop this if they wanted to in a second.
    Years ago I ended up with a DVD exercise program P90 I think, since I didn't want it I listed it on ebay took about 15 minutes for the add to be pulled for copyright infringement.
    I wasn't a authorized dealers and P90 was there copyrighted trademark like Nvidia, ASUS, EVGA, MSI, Sony are all copyrighted trademarks so they do have the ability to stop this.
    People should be able to sell there stuff on ebay and make money but not in this way sucking everything up from every retailer amplifying the shortages for there own benefit.
    Nvidia could simply ask for every add that uses there copyrighted trademarks more then 10% above MSRP pulled down the scalping and bots would disappear overnight.
  • ThisIsMe
    Only eBay can stop this in a heartbeat. All they have to do is ban people from selling new graphics cards or game consoles or whatever for 6 months. That’s it. People need to wise up and boycott eBay altogether until they wise up.
  • excalibur1814
    You know what else needs to stop, on eBay? 0 feedback accounts.

    I've been watching Nikon Z6 auctions for over a month and EVERY single one is bid up to around £850. EVERY. Single.One. All tech item prices are seemingly being inflated and that benefits oems, eBay and share holders. It's annoying. It's obvious. It's so obvious, yet most threads are full of people shouting that it isn't an issue and that there's nothing going on.

    Yeah, okay.
  • LolaGT
    It used to be really easy to track on auction sites with a little detective work.
    It has been many years now since ebay hid the bidding IDs so it was almost impossible to confirm it, and of course now that you can't see the obvious, it doesn't happen as far as ebay is concerned.

    Shill bidding in auctions is the deliberate placing bids on the seller's behalf to artificially drive up the price of his auctioned item. Shill bidding has been known to occur in auctions of high-value items like art and antiques where bidders' valuations differ and the seller's payoff from fraud is high.
  • Clarence_Darrow
    ThisIsMe said:
    Only eBay can stop this in a heartbeat. All they have to do is ban people from selling new graphics cards or game consoles or whatever for 6 months. That’s it. People need to wise up and boycott eBay altogether until they wise up.

    Ebay makes far too much money to ever do this willingly.
  • daworstplaya
    Clarence_Darrow said:
    Ebay makes far too much money to ever do this willingly.

    Honestly in this climate MS and Sony should just stop selling their consoles for a loss and sell the consoles for a higher price themselves and keep the profits vs allowing these low life scalpers (aka leeches) to make a quick buck.

    GPUs are a different story though, what needs to happen is for all the Cryptocurrency servers to be shut down in China and where ever else they are currently running. Kill Crypto and this whole thing goes away. There is absolutely no reason from Crypto currency ponzi scheme to exist.
  • blacknemesist
    At least mining is getting diminished returns, hopefully it keeps dropping more and more and not only do they stop buying they will need to sell them to cut their losses.
    I would be happy if all gamers boycotted the 3xxx series just to let crypto crappers suffer all the losses but that isn't going to happen,
  • Sat32
    Ebay is making money off the scalpers there is no reason for them to stop it. On the other hand Nvidia and it's vendors are dealing with pissed off customers and losing sales with tie in sales. I suggested a solution to this issue one call from one of Nvidia's lawyers letting ebay, stock-x, Facebook market place know if there products are sold on there sites all sellers will need to be authorized resellers. or they can expect legal action seeking damages for copyright infringment