Scalpers Mark Up RTX 3000 Series GPUs as High as 200%
The ongoing GPU shortage has sparked a gray market boom for scalpers, which combined profits of more than $ 15.2 million, according to the latest analysis. By analyzing sales on eBay and StockX, data engineer Michael Driscoll estimated that scalpers have sold approximately 50,000 Nvidia GeForce RTX 3000 series cards for total sales of more than $ 61.5 million.
Driscoll reported that the cards with the highest sales volume on eBay were the flagship Nvidia GeForce RTX 3080 and mid-range RTX 3070 – with a total of 25,750 units sold – but the expensive $ 1,499 RTX 3090 was not at 7,775 units too far back. Similarly, the RTX 3070 was the top-selling card on StockX, closely followed by the 3080. In total, Driscoll tracked 49,680 cards sold.
“With all four RTX 30 series there was a sudden increase in sales between Christmas and shortly after the new year,” said Driscoll, according to the PCMag report. Nvidia isn’t the only GPU manufacturer experiencing bottlenecks. The situation is similarly dire for Team Red players hoping for the latest GPUs from AMD.
The increase in demand for graphics cards and GPUs can be attributed to several reasons. PC makers and GPU makers like AMD and Nvidia have attributed demand to more people working and playing at home as a result of the global pandemic. However, the recent resurgence in interest in cryptocurrency has also resulted in a surge in demand, with Bitcoin miners hoarding cards. It has also been reported that AMD and Nvidia may be suffering from supply-side bottlenecks and may be to blame for low inventory levels of GDDR6 memory.
Nvidia’s CFO had previously stated that the shortage would last until early 2022, and more recently AMD CEO Lisa Su said the shortage for her company is expected to last until the first half of this year.
With low supply and high demand, scalpers benefit from impatient gamers who don’t want to wait, and prices for the GeForce RTX 3000 series and AMD Radeon RX 6000 series cards have risen in the secondary market. Driscoll said prices for the RTX 3060 were up 210% from MSRP, but have fallen slightly since the peak. The situation is similar with other cards in Nvidia’s line-up.
Even if scalpers aren’t in the picture, gamers should expect higher prices for graphics cards this year. Due to a 25% tariff imposed by the Trump administration on processors, building a gaming rig is now more expensive than it was in 2020.
In addition to posting data on GPUs, PCMag announced that Driscoll intends to release information on how many units of Microsoft’s Xbox Series X and Sony’s PlayStation 5 have gone through the secondary market. Like PC graphics cards, these consoles are also in high demand. And since they are based on the same RDNA 2 graphics architecture that supports the Radeon RX 6000 graphics cards from AMD, the supply of their internal silicon has also been restricted.