The Graphics Card prices in India are declining, and here is a study I did on the recent GPU price fall in India.
As you might be aware, the cryptocurrency meltdown is having a significant impact on graphics card prices everywhere in the world. We are also observing a similar trend in India as the prices have started to dip.
Several crypto exchanges are blocking outward payments, and the situation is looking grim for crypto investors.
Graphics Card Prices in India Are Declining
The meltdown in the crypto market has sent panic waves to crypto miners who have enjoyed a good run so far. Not only are the new buyers (miners) shunning away from buying GPUs, but several existing miners are planning to sell the GPUs and cash out.
I keep tracking graphics card prices as I have to update our gaming PC builds and other articles to reflect the accurate picture.
Based on the data I collected recently and six months back, the graphics card prices in India have declined by over 30%. I am sharing below the current AMD and Nvidia Graphics card prices and the prices about six months back (old price).
Nvidia Graphics Card Price Decline
| Graphics Card | Old Price Rs. | Current Price Rs. | % Decline |
| Nvidia GTX 1660 Super | 38,990 | 26,990 | -31% |
| Nvidia GTX 2060 | 43,000 | 29000 | -33% |
| Nvidia GTX 1660 Ti | 39,990 | 27,990 | -30% |
| Nvidia RTX 3050 | 41000 | 30,990 | -24% |
| Nvidia RTX 3060 | 58,000 | 41,000 | -29% |
| Nvidia RTX 3060 Ti | 64,000 | 46,000 | -28% |
| Nvidia RTX 3070 | 81,000 | 63,000 | -22% |
| Nvidia RTX 3070 Ti | 92,000 | 74,000 | -20% |
| Nvidia RTX 3080 | 1,08,000 | 80,000 | -26% |
| Nvidia RTX 3080 Ti | 1,45,000 | 1,01,000 | -30% |
If we look at the price decline, most of the Nvidia cards have declined by about 30% compared to the older price (6 months back). Also, since miners are not buying new GPUs, plenty of inventory is available at the retailers and distributors that need to be liquidated.
I spoke to some of the retailers in Nehru Place and Lamington market and they confirmed the same.
This is causing more pressure on the GPU prices, and I think in July or August 2022, these can drop 10 to 15% more from the current price.
AMD Graphics Card Price Decline
| Graphics Card | Old Price Rs. | Current Price Rs. | % Decline |
| AMD 6500 XT | 33,900 | 20,900 | -38% |
| AMD RX 6600 | 45,000 | 31000 | -31% |
| RX 6700 XT | 78,000 | 59,000 | -24% |
| RX 6800 | 98,000 | 70000 | -29% |
| RX 6800 XT | 1,10,000 | 82,000 | -25% |
| RX 6900 XT | 1,42,000 | 1,01,000 | -29% |
AMD Graphics card prices have declined slightly more than the Nvidia cards. Some AMD GPUs have dropped by up to 38%. Also, gamers and content creators demand more for Nvidia GPUs. We may see more dips in the AMD GPU prices in the coming months if the crypto price situation doesn’t improve.
Nvidia and AMD have enjoyed the crypto run and have made boatloads of money. But the current meltdown in the crypto market means no GPU demand from miners. Also, there will be a massive used card inventory in the market with few takers. Current and next year will be hard on Nvidia and AMD as the sales will be hit if the situation remains the same.
Used Graphics Card Prices Are Declining
The impact can also be seen in the used graphics card prices too. A quick search on OLX for Nvidia RTX 3080 and RTX 3080 Ti will show some results with less than 50K price for the used graphics cards.
Most cards like RTX 2060, 2070, 3060, and 3070 are seeing a dip in used card prices as the new cards are now available cheaper.
However, it is not safe to buy a mining card as most of these would be out of warranty and may have custom BIOS flashed that can void the warranty.
It is always hard to tell if a graphics card is used for mining and how much the owner has abused it.
I will stay away from buying a used graphics card currently, as most of these are from mining rigs used heavily by the owners. I wrote a detailed guide on buying a used GPU that you can refer to if you are planning to get one.
Graphics cards have a long life and can easily last more than ten years. Buying a new card with a 2-3 years warranty will give you peace of mind and will also save a lot of headaches down the line.
The prices are declining, and if the crypto prices don’t rise, we can see even more discounts on new graphics cards.
Also, Nvidia is likely to launch the RTX 4090, RTX 4080, and RTX 4070 in the second half of 2022, which can make all these cards obsolete and lead to a further decline in prices as the new cards become available.
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