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FURTHER PROOF - forgot to add "+comments"
People who say "backpack.tf prices only" are no better than people who use spreadsheet. If they follow this sites prices, then how do we gather data if no one's asking for anything else?
People are willing to reduce their prices by about 33% / one-third of the supposed 5 refined upper value of this item to about 3 refined (2nd link has an Eerie key offer that the seller will say he'll probably take)
The reason the current price is wrong is because no one's taking the ones at 5 ref, and I can't see anyone currently offering higher than a key.
edit: here's a sold one at 3 refined
http://www.tf2outpost.com/trade/5624816
http://www.tf2outpost.com/trade/5762370 - seems to have sold for 4 refined, 1 week ago, 1 refined below the supposed minimum of 5 refined. Supports the suggestion that people will sell for less than the value on this site, because they're desperate to get rid of it before it falls further.
Plenty of unsolds, even some without offers, because no one's searching for this hat.
http://www.tf2outpost.com/trade/5859728 - 5 ref, 5 days ago, no offers
http://www.tf2outpost.com/trade/5846163 - 5 ref, 5 days ago, no offers
http://www.tf2outpost.com/trade/6029790 - 4 ref, 1 day ago
http://www.tf2outpost.com/trade/5952905 - 2 keys + 1 ref, 1 day ago
http://www.tf2outpost.com/trade/5941953 - 3 keys for a Bull and a Fallen (about 1 key max), so ~2 keys for the Bull, 3 days ago, no offers
http://www.tf2outpost.com/trade/6028760 - "looking for backpack.tf values" - 1 day ago.
http://www.tf2outpost.com/trade/5902250 - not sure yet, asked him for what it went for
http://www.tf2outpost.com/trade/5570977 - asking for 6 refined, 1 week ago. 1 low offer
http://www.tf2outpost.com/trade/5797805 - 6 ref B/O, 6 days ago, highest offer was first offer for 1 key + 2 ref (~4.66 refined) which would be considered below minimum market price at the time.
http://www.tf2outpost.com/trade/5762344 - asking for 5-6 refined, 1 week ago, highest offer was 2.6 ref (buyer misinterpreted notes)
http://www.tf2outpost.com/trade/5581351 - 2 keys + 1 ref, started at 2k+2r, 1 week ago, zero offers
http://www.tf2outpost.com/trade/5948071 - asking for minimum of 4.66, 3 days ago. 1 offer of 1 refined.
On a side note, I thought this suggestion was needed because of it's relation to the price of the Haunted Idiot Box, where both are similar in demand and rarity, since before the re-release of these costumes this year, almost all of them were in sets
You might want to click on the item in the trade to see if it has changed hands, or look in the seller's backpack (Link 4 (user skunky, advertising 5 refined): Blazing bull is not in backpack (tsk tsk, should have closed that trade)). I found that this + the idiot box were the higher value haunted headwears before the h'ween update, so I suppose this price would be more accurate.