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Spent a couple of weeks with this hat, seems to me it needs a bit of a bump up.
Edit: Original comment ate up all my spacing. See below...
My personal trades and experiences: (Purchased 2 weeks ago at 1 bud in a quicksell; began with a B/O of 2, went down to 1.66 after a week due to several competing belts at 2)
NOTABLE OFFERS:
http://www.tf2outpost.com/trade/7954981 - Eerie Orbiting Fire Glengary Bonnet - Needs an update, but from a glance I don't think it'd be unreasonable to call it ~1.66-2 worth
http://www.tf2outpost.com/trade/8181089 - Bud + 12 keys. Wiggled slightly up to bud + 14 keys in private conversation as I was unwilling to go less than 1.5. Didn't go through as the fellow needed to pick up a bud from a friend.
The rest went down today in private adds.
One fellow offered me 40 keys. I refused, being content to wait on the previous fellow if I wasn't seeing higher. He seemingly found one elsewhere at that price. Unfortunately I didn't keep a record of the user to show this trade.
SALE:
Next fellow offered me 22 keys + 70 refined (~19 keys at 3.66 ref/key) + Gold Veil + Outback Intellectual + Gold Fruit Shoot (~3 keys in items), which I took. 44 keys total. I can provide a nasty giant inventory history picture if need be, though it's all waiting to drop into my backpack right now, starting from the gold Fruit Shoot. I'm buying keys with metal, so it may slightly differ during the period this suggestion is up: http://backpack.tf/id/76561197998854720
SUMMARY:
Purchased at 1 bud (a quicksell through a friend who needed promos for a trade immediately)
One unusual offer over 1.5 with overpay taken into account, two offers of 1.5 pure; one needing some time to collect, one ready to go.
Sale at a breath under 1.66.
OTHER TRADES:
http://www.tf2outpost.com/trade/6640664 (Starting 2 months ago, B/O 2.5, no autobump)
Orb. Fire Whoopee + 14 keys- 1.5 mixed (3 weeks ago)
1.33 pure (1 week ago)
http://www.tf2outpost.com/trade/3595680 (Starting 5 months ago, no B/O, autobump)
44 keys + sweets- 1.66+ pure (3 weeks ago)
Traders should have no reason to go lower than 1.33 on this hat, even as a quicksell. There was quite a bit of interest at 1.5 and it wasn't difficult to push further up to 1.66. Other trades similarly demonstrate the ease to reach 1.33 and the possibility of reaching upwards of 1.66.
If you bought the hat for 1 bud, shouldn't the lower end be one bud? Downvoted.
Based on everything else I've shown, I'm calling it an outlier.
(If you bought the hat for 1 bud) -it was a quick sell (can not be considered ).
A good analysis of the price. +UP