What just happened? The latest report on the state of the GPU market in Germany and Austria, which is usually a reflection of global trends, has landed—and it’s not good news. Following a pattern that’s been present since early August, prices for both Nvidia’s and AMD’s graphics cards have risen yet again, with team red’s Radeon RX 6000 series close to their most expensive point.

The new data from German site 3DCenter is difficult reading for those looking to upgrade their GPUs. Prices of the latest graphics cards from Nvidia and AMD fell rapidly from their mid-May peak until the start of August, but both RDNA 2 and Ampere have been on the rise since then.

On October 31, the average selling price of the RX 6000 series was double the MSRP, while Ampere cards were 88% higher. On August 8, for comparison, both companies’ cards were around 50 - 59% above MSRP.

The publication notes that the erratic market has led to some extremes, including examples of the Radeon RX 6800 & 6800 XT being priced higher than the usually more expensive and powerful RX 6900 XT, the RTX 3070 Ti ($599 MSRP) reaching 2,000 Euros ($2,314), and the GeForce RTX 3090 ($1,499 MSRP) hitting a record 4,029 euros ($4,662).

While RDNA 2 is close to its 114%-over-MSRP peak, Ampere remains a long way off its 204%-over-MSRP highest level. But with both sets of cards continuing to rise, the outlook isn’t promising.

Availability is also getting worse. Only the RTX 3060 Ti, 3070, and 3080 Ti have four-star ratings in this area, while the rest of Ampere is on just three stars. And AMD, whose cards have long been harder to find, only has the Radeon 6900 XT on a four-star rating. The rest have three stars, and the RX 6800 has just one.

So what’s causing the new uptick? The rising price of cryptocurrency is always a factor, despite AMD long denying it prioritizes miners over gamers, and Nvidia’s crypto-specific CMP line that contains a $4,300 mining monster. There’s also the chip shortage, of course, which insiders predict will last until mid 2022 or even 2023. Moreover, the upcoming holiday season will likely be increasing demand.

The one ray of light is our examination of the second-hand GPU market. Although Ampere prices remain around twice their MSRP on eBay, they were down very slightly during October, as were RDNA 2 prices. Older cards, meanwhile, were flat for the month.