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same basic gun 3868 comes with 3 dot sights and 3864 comes with a fiber front sight and low profile combat rear on pricing From Buds "Our website updates every 20 minutes, 24/7, with our current inventory and replacement cost. We do not price our guns manually based on our cost in each, rather we use a live download from manufacturers and distributors to set our price based on our current replacement cost. As our cost changes, the corresponding website price of each make/model will change up/down accordingly. Although our profit margin remains unchanged, our advertised prices will change frequently, sometimes several times per day."
I cannot speak for why Buds' pricing procedures created such a discrepancy but on Springfield's website the two-tone 3868 actually has a higher MSRP than the black Melonite one. Both should include the same case, a flush fit 13rd mag and a 16rd mag. I've handled and shot both of the finish types and found both pretty decent. Personally, the 3868 seems like the better deal to me.
Jay, Buds prices are tied directly to stock level and there can be a wide price gap between similarly priced firearms depending on how many of each are in stock.
Jay - other than the fact one is all black, and one has a stainless slide, there is no real difference between the two, as far as features. The stainless model appears to come with one 13 round mag, while the black one is listed as coming with 1 16 round mag and one 13 round mag. I'm confident both will come with two mags, though, one 16 round and one 13 round. Other than that, it's like James and Randy said above - Buds pricing is directly set by information furnished by the manufacturers and based on inventory levels, manufacturer's prices and other factors. I can say though for sure, Model 3868 is a real deal!