It really depends on the rest of your system. The manufacturers of graphics cards have to try to account for everything, including the people who are running lots of RAM, multiple hard drives, and overclocked CPU, etc.
It all really depends on the total power usage of your system.
Further, while most good quality PSUs provide on the 12V rail match nearly their total rated power, it's good to check the specifications and be sure.
Officially my graphics card (Gigabyte R9 285 Windforce OC) requires a 500W PSU. I've been using a 460W with no trouble, but that's because the rest of my system is pretty tame.