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Updating a 6 months old price. Proof below.
http://www.tf2outpost.com/trade/3413079 (6 months old)
No B/O
C/Os
SF Rocket Launcher (5 months ago, at the time they were around 1.2 Buds)
Steaming Tippler (19-24)
1 Bud
G. Fetti Stove + Bill's + S. Gunslinger + Crate 40 (at the time that offer was about 2.5 Buds, it was retracted and declined)
30 Keys
1 Bud + 10 Keys
1 Bud
1 Bud + All Father + 1 Key + Liquor Locker
Smoking Brain Bucket + Bill's (28-30 Keys total) -> owner liked that offer a lot for some reason
Conclusion: The owner of that hat has no sort of idea what he's doing at all and he probably won't ever sell it, you could probably offer him a complete Strange Festive 2011 set and he would decline, he has no idea what most items are worth. Anyway he still got multiple 1 Bud offers (also recently) and a 1 + 10 Keys offer (2 months ago).
http://www.tf2outpost.com/trade/7871171 (3 weeks, doesn't bump)
C/Os
25 Keys
1 Bud
30 USD
-> owner hasn't replied to any offer
There are many people who have offered 1 Bud in the past and failed, I think that's the low end for the price. The best offer was 1 + 10 Keys, I think a sane owner would have taken that, but as explained above the owner has no idea what he's doing, thus explaining my high end.
Let me know what you guys think about this one, please read a few comments on that first guy's trade before so u know what I'm talking about.