In what we certainly hope will soon be a global phenomenon, the price of RTX 3080 GPUs has officially cratered in Australia. What’s even more remarkable is the fall wasn’t the result of the slow decline we’ve been seeing. Instead, the bust occurred seemingly overnight.
According to Australian YouTubers Hardware Unboxed, the price of an RTX 3080 was $2,299 AUD on Monday. That works out to about $1,700 USD, so not good. Then, on Tuesday, online listings showed the price had plummeted to $1,499, which is $1,110 USD. We never thought we’d say this about paying a grand for a GPU, but that’s not a terrible price. The reduction in pricing represents a 35 percent dropoff in one night. Clearly, strange things are afoot in the Australian GPU market. It should be noted, however, that is the price of just one model, the Asus TUF variant.
The news follows months of GPU prices slowly declining, but marks the first rapid drop we’ve seen. It also follows a report that Nvidia has seen an 8-12 percent reduction in the costs it incurs in manufacturing GPUs, according to Wccftech. The company apparently notified its partners of this cost reduction, adding that it would be passing it along to them. They would then theoretically pass that same reduction along to system integrators, which would pass it along to customers. Of course, that convoluted process could take a few weeks to work its way through the supply chain. Still, it’s yet another sign that things might be returning to normal in the near future.
Another encouraging sign is there’s actually GPUs in stock, right at this very moment. Glancing at EVGA’s page, we can see several RTX 3080 boards available for purchase. That is usually not the case, and as you may recall, the company set up a queue specifically for these very boards at launch. I personally waited in this queue, for over a year, and never got notified of any availability. Unfortunately it seems the high-end cards are the only ones available, as the less expensive 3070 and 3060 boards are all sold out.
One final data point is that in Europe, the RTX 3090 has also fallen below 2,ooo Euros for the first time since last August, according to 3DCenter. That’s an astonishing 1,200 Euros less than it was in May of 2021. Reasons for these declines vary, and are all guesses, but it’s most likely tied to volatility in the crypto market. Ethereum is also poised to move to Proof of Stake “soon,” but we’ve been hearing that for over a year now at least. If and when Ethereum pivots, it could have a significant impact on the mining community, as mining for ETH will no longer be necessary. However, there’s plenty of other coins for people to mine, so it’s unclear what impact it will have on GPU availability.