Purchase price for GTX 1070 increased $1,000 in a month - is this typical??

[Don Perfecto]

Hello,

One month ago I purchased the components to build my first mining rig. I only purchased 1 GPU at the time because I wanted to make sure I could get it working before buying more. Now that I got the rig working properly, I looked on Amazon to buy an additional GPU and saw that the only available GPU of the same make/model was selling for an additional $1,000 over the price at which I purchased it only 1 month ago!

The GPU in question is a Gigabyte AORUS GeForce GTX 1070 8GB Graphic Cards:

Price I paid in beginning of December: $469.99
Current price available on Amazon: $1,470.00

Is this price type of price jump typical with GPU cards?

If so, did I just get lucky to find a GTX 1070 for only $470? Is there another make/model I should be looking towards that has more consistency in terms of price and availability for purchase?

Any advice would be greatly appreciated. Thanks!

- DP

[Vann]

GPU shortages caused by a substantial increase in altcoin profitability has caused all GPU's to dissapear from the normal retail channels, leaving resellers to dictate the pricing on GPU's for immediate delivery.

[malthrax]

Look very closely at that listing.  Is it sold by Amazon? No.  Its sold by a re-seller who's marking it up 250%

Same with NewEgg.  Your specific card is out of stock - only the resellers have them, and they're being douchebags.


Just find another 1070 - they're all pretty much the same.  Don't need them to be sequential serial numbers from the same identical manufacturing lot number.

[Don Perfecto]

I figured it was reseller markup just surprised to see such a significant jump in such a short amount of time.

As a new miner I guess I'm part of the problem really, just wondering if this has been happening or Dec/Jan was a significant spike in demand.

Thanks for insight re: all 1070s being mostly the same. Are there any manufacturers that tend to have 1070s stocked more frequently than others so I can avoid resellers?

[flip4flop]

Need to set up alerts with all the major ones. Newegg and amazon and buy soon as you get the email. Newegg had a few come in on Friday. They sold out in under a hour. Lucky enough to get my hands on 1. Gotta be quick with the demand

[Vann]

Best chance is to sign-up for auto notify stock alerts on the retailer websites or nowinstock.net. Even retailers have marked up new stock 10-25% compared to what they were a month ago.

[Don Perfecto]

Great. Thanks for the help guys. Cheers.

[Metroid]

Resellers are doing that cause in their minds is when you buy that card from them then --> they already mined 1 eth hehe just by haggling and you are stuck, dont give in and the funny thing is some people buy the cards thinking mining will give them many times more in profit hehe, they place those prices because there are idiots that are paying that. And probably most of those idiots get the credit card of their parents ehhe.

[Amstellodamois]

You might want to mix it with a 1080 for $1000:
https://www.newegg.com/Product/Product.aspx?Item=N82E16814487380&ignorebbr=1&nm_mc=AFC-C8Junction&cm_mmc=AFC-C8Junction-VigLink-_-na-_-na-_-na&cm_sp=&AID=10446076&PID=6163686&SID=jc5d7fhbsq011rh100053

[Metroid]

Where I live, resellers are selling a rx 580 8gb for $460, and that is from $300, i laughed so hard when i saw that hehe and trust me people are paying that. And yes a gtx 1070 is being sold for $470, so who in the right mind will pay $460 for a rx 580 8gb? only dumb and idiots.