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First of all before showing my proofs about why you should lower the minimum price its a retired hat and the price was set 4 months ago before this hat was known as a retired hat.
Second of all according to outpost offers of 1.7 were the minimum price and 2 buds (all in promos) were around the maximum price.
Maybe its a slight change of 0.1 of the minimum price but knowing that this site tries to be more accurate and update as much as it can so I think I'm helping quite a bit.
http://www.tf2pricecheck.net/Thread-PC-Eerie-Orbiting-Fire-Demoman-s-Fro
http://www.tf2outpost.com/trade/8020827
http://www.tf2outpost.com/trade/8668843
According to those posts the b/o is 2 buds ( maximum price )
but the lowest price have gone past 1.6 and not going to go any further you can just go to the posts and check the offers.
The PC Thread has shown the price of it updated is 2 buds maximum so I am not going change the maximum price but I feel the minimum price according to those posts and the thread should be higher.
Hope to succeed in my goal to raise the minimum price to its right place!
I think it needs a bigger boost. I got offered 2 buds 3 times and sold it for 2.5 IIRC.
This was at the peak of the retirement craze, though.