There's no way this should be this high. Proof below.

So many unsold for 1 ref... so many. Leaving in the range anyway because it does happen, and there's a massive pool of sellers for outrageous prices that makes 1 ref seem reasonable.

~SOLD~

Bought for .66

http://www.tf2outpost.com/trade/8228552 (bought 1 out of 2 desired)

http://www.tf2outpost.com/trade/7611888 (bought quite a few)

http://www.tf2outpost.com/trade/7707297

http://www.tf2outpost.com/trade/7649984

http://www.tf2outpost.com/trade/7588552

http://www.tf2outpost.com/trade/7596162 (love the kid asking for a key for his, so cute)

Bought for .77

http://www.tf2outpost.com/trade/8097441 (bought 3+)

Bought for .88

http://www.tf2outpost.com/trade/8017428 (switched to buying at .66 after getting 4)

Bought for 1

http://www.tf2outpost.com/trade/8220971 (bought 2, rejected a 1.22 offer)

Sold for 1

http://www.tf2outpost.com/trade/7707520

http://www.tf2outpost.com/trade/7310660

~UNSOLD~

Buying for .33

http://www.tf2outpost.com/trade/7768411 (amusing)

http://www.tf2outpost.com/trade/7854967

THERE ARE A LOT OF THESE

Buying for .44

http://www.tf2outpost.com/trade/7821133

http://www.tf2outpost.com/trade/8223913

http://www.tf2outpost.com/trade/8023344

Selling for .66

http://www.tf2outpost.com/trade/8339689 (Assuming Saxtons are .33 each?)

Buying for .88

http://www.tf2outpost.com/trade/8250252 (add this person, doesn't seem to have any FJ offers yet!)

Selling for .88

http://www.tf2outpost.com/trade/8301502

Selling for 1

http://www.tf2outpost.com/trade/8223876 (rejected .88)

http://www.tf2outpost.com/trade/8303233

http://www.tf2outpost.com/trade/8319274

http://www.tf2outpost.com/trade/8123837

http://www.tf2outpost.com/trade/8282166

http://www.tf2outpost.com/trade/8252367

http://www.tf2outpost.com/trade/7898296

http://www.tf2outpost.com/trade/8329821

http://www.tf2outpost.com/trade/8166667 (Recent offer to 'discuss' for FJ)

http://www.tf2outpost.com/trade/8190929 (current backpack price, aka 1 ref)

Selling for 1.22

http://www.tf2outpost.com/trade/8338306

Selling for 1.33

http://www.tf2outpost.com/trade/8057596 (Craft hat = 1.33)

http://www.tf2outpost.com/trade/7466375 (rejected 1)

http://www.tf2outpost.com/trade/8209433

Selling for 1.55

http://www.tf2outpost.com/trade/8267783

Selling for 1.66

http://www.tf2outpost.com/trade/8100895

http://www.tf2outpost.com/trade/7941327

http://www.tf2outpost.com/trade/7399534

http://www.tf2outpost.com/trade/8257247 (rejected 1)

Selling for 2

http://www.tf2outpost.com/trade/8136931

http://www.tf2outpost.com/trade/7494310

http://www.tf2outpost.com/trade/7360448

http://www.tf2outpost.com/trade/8228828 (renamed... Dorothy?)

http://www.tf2outpost.com/trade/7381786

http://www.tf2outpost.com/trade/7568823

http://www.tf2outpost.com/trade/8236820 (asked for 1 ref minimum with 2 ref b/o, no offers)

Selling for 2.33

http://www.tf2outpost.com/trade/7893816

Selling for 2.66

http://www.tf2outpost.com/trade/8218075

Selling for 1 key

http://www.tf2outpost.com/trade/7401480

http://www.tf2outpost.com/trade/7810678

Selling for 2 keys

http://www.tf2outpost.com/trade/8275911 (seems legit)

http://www.tf2outpost.com/trade/8095892 (gotta love the fast trade)

Offers

http://www.tf2outpost.com/trade/8133652 (offered 2 rec, no response)

http://www.tf2outpost.com/trade/7366598 (offered dirty SNS (.66), no response)

http://www.tf2outpost.com/trade/7798213 (rejected .77)

http://www.tf2outpost.com/trade/8273657 (offered FJ for 1 ref, no response)

Just like the ax, but this one seems to be sold more to bulk buyers. Very large population unsold at 1 ref each. Too much success buying at .66 not to change the range.