Did the dollar suddenly devalue vs. used 5970's?

[yochdog]

Help me out here guys:

http://www.ebay.com/sch/i.html?_from=R40&_trksid=p3984.m570.l1313&_nkw=radeon+5970&_sacat=See-All-Categories

http://www.ebay.com/itm/ATI-Radeon-HD-5970-Dual-GPU-Graphics-Card-/130644546309?pt=PCC_Video_TV_Cards&hash=item1e6b059305

http://www.ebay.com/itm/Diamond-Multimedia-ATI-Radeon-HD-5970-5970PE52G-/260953019865?pt=PCC_Video_TV_Cards&hash=item3cc20315d9


5 days ago new 5970's were going for around $400.  Now used ones are topping $600?! 

What am I missing? 

[gnar1ta$]

ha so you buy the stock out instantly at newegg for $325, resell for $425, and the buyer resells on ebay topping your markup   Really though I'd pay your prices in BTC but paypal over $560, that's crazy - I hope you hid some of them in a closet for demand like this.

[david113]

..many people buying 5970's ? so, prices goes up...

[someone703]

Seems like the same one or two buyers bidding high on the 4 or so 5970s that're currently around the 550-600 mark.

Will have to keep an eye on the ones that are ending sooner.  Also there's like a 600 buy it now card but it's just sitting there.

[yochdog]

ha so you buy the stock out instantly at newegg for $325, resell for $425, and the buyer resells on ebay topping your markup   Really though I'd pay your prices in BTC but paypal over $560, that's crazy - I hope you hid some of them in a closet for demand like this.

No shit.  I only cleared like $1,000 bucks from buying out Newegg. 

I still have 15 5970's, and I will sell them all at $600 a piece.  I will just wait for the offers to pour in!

[kjlimo]

it's a pendulum that swings with the price of bitcoins as well as the number of new miners.

Although I think FPGA technology is the way to go...

[yochdog]

it's a pendulum that swings with the price of bitcoins as well as the number of new miners.

Although I think FPGA technology is the way to go...

I don't disagree with this, but the price of BTC was higher 2 weeks ago when the price of used 5970's on Ebay was substantially lower. 

In this case, I am not sure there is causality. 

[Lupus_Yonderboy]

Anybody that would pay more for a 5970 than a 7970 should immediately have their mining license pulled and their genetic legacy deleted from the pool.

[kjlimo]

it's a pendulum that swings with the price of bitcoins as well as the number of new miners.

Although I think FPGA technology is the way to go...

I don't disagree with this, but the price of BTC was higher 2 weeks ago when the price of used 5970's on Ebay was substantially lower. 

In this case, I am not sure there is causality. 

Right, that's why I also mentioned the # of new miners.

There's also shill bidding which shouldn't b discounted.

[yochdog]

Anybody that would pay more for a 5970 than a 7970 should immediately have their mining license pulled and their genetic legacy deleted from the pool.

Absolutely.  What moron would pay $600 for a USED 5970 when a new 7970 can be had for $50 less? 

Simply bizarre if these auctions are legitimate. 

[556j]

Some people are lazy, do 15 min of research and see the 5970 is "the card to get" and never bother looking further.

[gnar1ta$]

Well it is the card to get...at $400...and new.  Maybe we are looking at this the wrong way, we should be convincing people to buy them at $700 used, then sell them all ours and buy 7970's 

[yochdog]

Well it is the card to get...at $400...and new.  Maybe we are looking at this the wrong way, we should be convincing people to buy them at $700 used, then sell them all ours and buy 7970's 

this.

[DeathAndTaxes]

I was in an auction where top bid hit $430, I got a second chance offer for $325.  My guess is at least some of that action is fake to pump up bids.  Still $600 is insane fake bids or not. Eventually the prices will come down.  Mining is a marathon not a sprint. 

[someone703]

I was in an auction where top bid hit $430, I got a second chance offer for $325.  My guess is at least some of that action is fake to pump up bids.  Still $600 is insane fake bids or not. Eventually the prices will come down.  Mining is a marathon not a sprint. 

That's the first thing that popped into my mind and is the reason I went and looked at the bidders on the cards that went that high.  You can't see specific names but you can see that it's the same two ebay accounts placing all those bids against each other and one of those guys has the high bid on several of the other more reasonably priced ($400ish) cards.

[Sannyasi]

did my own search for auction only 5970s (didn't check yours).... seems that the two top bidders on most of the overpriced cards are the same two person. Sometimes people get into bidding wars and don't realize they are taking the shaft. then other times another person drives up the price just to be a troll since they have a hunch they'll be outbid (i did this once on a rare item that I paid a third of the price for on a different bid long ago). though..... I SUSPECT A CONSPIRACY TO DOMINATE THE WORLD IS THE CAUSE!!!!

[The-Real-Link]

That's odd but might just be a random thing of the week.  I've tried to buy mine at reasonable prices ($300-450 range) but sometimes they just get up there.  To hear them going past $500 is pretty crazy and true, I'd much rather have a new card compared to a used 5970 for as you guys said, $50 less if the price did get overly high.

[check_status]

Those are not the only high prices. It is happening for the 5850 and 5870 as well. A Gigabyte 5850 is listed at $329 Buy it Now.
Outside of EBAY I found a site selling a 5970 for $1100...LOL...I called them...They wouldn't negotiate. I gave them the Newegg link for $329 to see if I could get some type of price match, meh.

[Electricbees]

Last week I sold all my 5830's off to finally upgrade to 5970's, and look what happened...

This has me raging on so many levels. I sold off a solid 2.1Ghash, so I could buy 1, count it, 1 750Mhash card at the current overinflated price.
And the BTC crash made my profits worth less too, so I can't even buy one card now.

Rage. That is all.

[Davyd05]

Last week I sold all my 5830's off to finally upgrade to 5970's, and look what happened...

This has me raging on so many levels. I sold off a solid 2.1Ghash, so I could buy 1, count it, 1 750Mhash card at the current overinflated price.
And the BTC crash made my profits worth less too, so I can't even buy one card now.

Rage. That is all.

Why would you sell of 2.1 ghashs, just buy 5970s and pay em off as you're hashing power increases from 2.1gh/s , I mean I haven't been mining very long but if you covered you're initial investment on the 5830s there funding you're purchasing of a 5970.

About the eBay pricing, the value of the BTC going down would flood the market with 5970s, my logic is less value = less return on mining = people with 5970s who have enough of em, and are going to make the switch to fpga boards, will sell to salvage if the value is good enough ( $400+ imo is more then good enough lol considering these are paid of most likely by the original miner) which leads to some people trying to make even more of the uniformed. I am not saying anyone here is doing that, I am just saying some1 as new as me a ( a month old to the scene ) can see the 5970 was the card of choice and still has advantages in the gpu/to rig density etc, and now that its discontinued they can pick off newbies unaware of the main point the a 79xx series is out and easily available for 50-100$ on top of a $400 for used 5970.

In a nutshell, the 5970s became so rare, they could pull $400 minimum used, there then becomes the option to sell and replace with new hardware to those with many on hand, ie fpga in the battle to maximize w/hash or 79xx series both of which could see increase in mhashs based on software developments etc.

It would be sickening to think you could sell a 5970 for $620 you cover'd the cost on a 80w 833mh/s rig from butterfly but whoever pulls that one off is a slick rat indeed.