Statistics on Current Prices

[Ohio Gun Guy]

Like many of you I love looking through the local gun advetisements/sale papers. On THR price is often discussed. I was curious what a "Study" of prices would turn up, So I took 2 local gun advertisements and did a statistical study on price. Here is what I found:

1. For pistols the average (Mean) price is: $476. The Average less high and low examples (Adjusted Mean) is $479. The 67% of the prices for pistols fell between the Low (Adjusted Mean Price) at $317 and the High at $714.
(Sample size of 102 pistols)

2. For rifles the average (Mean) price is: $462. The Average less high and low examples (Adjusted Mean) is $489. Only 38% of the prices for rifles fell between the Low (Adjusted Mean Price) at $309 and the High at $694.
(Sample size of 61 rifles, note there were many .22 cal rifles and very expensive AR and PTR rifles that were dropped in the adjusted mean, thus the low standard deviation @1.5 x average price)

3. For shotguns the average (Mean) price is: $440. The Average less high and low examples (Adjusted Mean) is $371. The 89% of the prices for shotguns fell between the Low (Adjusted Mean Price) at $293 and the High at $660.
(Sample size of 26 shotguns)

What do you think these results can tell you? I think the most useful a numbers are the Low and High ranges. Anything low outside of these ranges represents possibly a good deal or a lesser quality gun. Anything higher is likely higher quality, but also not the best value compared to the alternatives. I’m curious to see if anyone else finds this interesting.

 

[SciFiJim]

I find it interesting. It tells me I got a good deal on a shot gun and a rifle, an average deal on my wife's Kahr and the one I already new about, a screaming deal on a Kimber for $600.

Good info Ohio, it would also be interesting to track those prices over time.

 

[sernv99]

What do you think these results can tell you?

it tells me the results only apply to guns that are listed in local gun advertisements/papers.

the $3000 Wilson Combat handguns, $6000 Beretta DT10 shotguns, and $6000 AW rifles don't apply

if you are going to use this as a general pricing guide to go by, I think you need to set your sights on guns at a certain price point. Anything under $900 would seem suited for this pricing guide.

 

[SciFiJim]

Oops, Thanks Sernv99. You reminded me of the warning, in my Stats class, of reaching conclusions from too small a sample. Even at the national level, the ads from two retailers is too few to reach broad conclusions. However, as you said, it can be used in a local market as a guideline.
As for myself, I check the online auctions and several online retailers for price guidelines. It's a wide open market and if a local retailer can't at least come close to online prices, I will order it and have it delivered to my front door by the big brown truck of happiness.