Last week, Nvidia decided to drop Geforce GTX 280 prices to €399 and it looks like this week the same card is selling for €351.

This makes this card quite attractive, but at the same time it shows that Nvidia has dropped its prices by a lot. Asus Geforce GTX 280 was fist time listed for €497.63 on the June 16th and today July 14th it dropped to €351.89, which is more than a 40 percent price drop in less than four weeks.

The way the prices are going, ATI’s Radeon HD 4870 X2 should maximally cost €399 if ATI wants to have any selling chances as this dual-card might end up faster than GTX 280, but we don’t think it will be a lot faster.

When it comes to Nvidia, this price drop proves a few things. First is that Nvidia underestimated ATI and therefore has to drop the prices to match ATI’s product; second is that Nvidia makes a lot of money off their card anyway, so dropping them to a more affordable prices will still let them earn some money, but it will hurt their average selling prices.

Overall, if you were an early bird who got the Geforce GTX 280 a month ago, we believe you are not feeling so happy about it.

You can get the card here.