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The recent sales are, of course, weighted more heavily in the sales rank algorithm. Those factors include the recency and frequency of sales along with historical number of sales.
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This snapshot is updated once per hour by Amazon and is influenced by a couple of factors. Sales rank on Amazon is a snapshot of how well a product detail page is selling in comparison to other products in the same category. This is a great questions and one that should be answered before you take a look at an Amazon Sales Rank Chart.
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