Uhmmm... folks here who think this is a bad deal are clueless... Farm raised and fresh salmon don't compare. Also... fresh, flash frozen salmon is usually better than fresh because it seals in the flavor before time at fresh temps destroys the fish.
All things being equal, a fresh fish eaten within hours will be better than a flash frozen fish eaten within a day, but give it 48 hrs and the fresh quickly degrades past it's ~5% lead in flavor very quickly and turns to junk.
Aside from fresh vs flash frozen, the type of salmon species makes a HUGE difference in price. Pinks (humpys) are what's sold in the cans and canneries pay fishermen approx 30X more for "gourmet" salmon like red (Sockeye) or King (Chinook). Silvers are about 1/2 the price of a red, but make great smokers due to their high fat content.
So... for gourmet salmon, 10.50/lb is very cheap. With some research you'll find that the usual price for wild, frozen salmon from AK is about $14-20/lb.