Currently, third age ranger sets are the most expensive ranged armour in RuneScape, ahead of pernix armour. Players wear this set to show their wealth rather than use in combat and risking the loss of any item that protects under these armour pieces.
It was long thought that the chances of obtaining a piece of third-age armour was of about 1 in 10,000 (according to Paul Gower), however, it was recently confirmed that the odds are lower than 1 in 100,000 [1].