I bet it is the BIOS; and that you have to buy a Semperon or similar processor to flash it. That is what happened to me and it cost me £30 to have every bit checked out because the supplier applies fines for incorrectly RMA'd stuff.
So if you haven't got a voltage checker, or another computer to test the graphics card on, no beeps = no processor or no power or short circuit, and in this case I would check out the BIOS since it could be the processor.
When you get it done if that is what is wrong, make sure the backup is synchronised; alt +f12 at post I think, was told that here. Flashing BIOS is risky but if you don't you might end up with nothing.