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Old price, time for updating. This hat has a gotten a pretty wide range of offers. One trade only has 1 offer for it which is only 1 bud, whereas another guy was offered about 1.6 in pure/bills hats. This is my first suggestion, so please tell me if I'm doing anything wrong.
Got some help from other people with pricing too. Don't hurt me.
http://www.tf2outpost.com/trade/11068177
-- Offered 1 bud + 16 keys (~1.6 buds)
-- Offered a Peace Tam O' Shanter (20-22 keys) + gifted Peace Master's Belt (I think he meant trophy belt, 16-18 keys) = ~1.5-1.6 buds
http://www.tf2outpost.com/trade/11540229
-- Offered 1 bud pure
http://www.tf2outpost.com/trade/11557815
-- Bought for 1 bud + 5 keys (1.2 buds), no offers (trade only 2 hrs old)
http://www.tf2outpost.com/trade/10017344
-- Sold for 1.8 pure
http://www.tf2outpost.com/trade/11312060
-- Offered 2 pure, still collecting
A note on the person who offered 2 pure. He ended up buyiing a peace headwarmer instead. People have varying opinions about how to evaluate collecting and retracted offers. In this case, I would consider the offer legit. If he had the 2 buds in hand at the time of the offer, he would have probably bought the baker. So I think it's fair to include that in the range.
the 2 buds offer is on the glitched painted one.
From experience in selling this hat, 1.5-1.6 is realistic, 2 buds is not. the 1.6 bud offer bought a stormy one which shows that was a really good offer on the peace baker.
The paint is chromatic corruption (7-8 keys) and not spectral spectrum (20-21 keys) so it only gives a small value boost, if an boost at all. Suggestion is good enough and way better than the current value.^^