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http://www.tf2outpost.com/trade/7388642 - My trade when it sold; someone took my 3 bud B/O for the hat.
http://www.tf2outpost.com/trade/5619528 - Right when the hat came out, got offered 2.5 pretty quickly.
There is another guy selling his (http://www.tf2outpost.com/trade/6190858), but it looks as if a lot of his offers have been hidden unfortunately, leaving behind some not-so-appealing offers. However, he also didn't set a solid B/O, which can deter people from offering.
Overall, the pricing is consistent with how other low-tier Stormy 13th Hour hats have been priced. For instance, the Stormy 13th Hour Demoman's Fro is priced slightly below Burning, and the Stormy 13th Hour Buckaroo's Hat is priced slightly above Burning. As such, I feel the provided range is consistent with both actual selling patterns, as provided in my trades, as well as the general unusual effect pricing tiers.