condition of firearm % rating...

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Not sure if this has been covered lately...did some searching also

I have noticed that when describing a firearm that may be up for sale or trade, usually a percentage rating is included. Recently I have seen numbers such as 93%, 98% & 99%, etc. Are these numbers just an arbitrary opinion made by the seller?...or is there a precise method used to arrive at this figure.
thanks...dave
 
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