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1 key. Not at all in demand when a cheaper, unique version is available. TF2OP, sellers ask for ~1.20 keys on average. No one is adding for the item.
Proof:
Search of the G. Quak:
http://www.tf2outpost.com/search/96921777
Sellers
http://www.tf2outpost.com/trade/9981764 (1 key ATM)
http://www.tf2outpost.com/trade/9709808 (1 key)
http://www.tf2outpost.com/trade/9911798 (1 key, 1 ref. 4+ Days of waiting for a buyer)
http://www.tf2outpost.com/trade/9752807 (1 key, 1 ref. 7+ days of waiting for a buyer)
http://www.tf2outpost.com/trade/9951636 (1 key)
Buyers
Buyers TF2OP search: http://www.tf2outpost.com/search/96923039
http://www.tf2outpost.com/trade/9990039 (buying quaks for 4.11 - bought 1 so far)
http://www.tf2outpost.com/trade/9973521 (buying quaks for 3.33 - bought 1 so far)
As you can see, not many trades open where people are buying. Not at all in demand, tough to sell. Also, for argument's sake, here's a photo of me buying one with keys in the rise, I got a good snag: http://tinypic.com/r/far1x/6 (key price ATM: 4.66)
I agree with this. Its very hard to sell for 1.25 keys. 1 key is hard aswell.
http://backpack.tf/classifieds/id/76561198075014646
The market seems to agree with this - most past sales have been $2,85 and under, which means that the sellers are dropping them for just about 1.06 keys in value MAX after fees.
On the market buying end, all of them are over 1 key's value at around 1.1-1.25 keys for the buyer, but not too many are selling for that price. The median price is around $2.50, and the outlier lows are less than $1, so I'm going to have to agree: 1 key sounds about right.