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Not really sure how the old suggestion was accepted, the only proof of the high end was the word of someone who sold it well over 2 months ago.
I had this hat a little while ago and bought it for http://www.tf2outpost.com/trade/11067590 (except the beak), (i would put a screenshot up, but it doesnt show whats traded after a certain amount of trades, just shows the names)
Stormy Mirror (with overpay) 18.9 keys + ~4 in items which at the time was roughly a bud (AKA SOLD FOR A BUD).
What i sold it for: o. fire tyrannus (1.33-1.44)
OTHER TRADES:
http://www.tf2outpost.com/trade/10678500
B/O 2 buds, unsold for 1+ month
Willing to accept 1 bud 15 keys (offered/retracted)
Also willing to accept (retracted) steaming barnstormer (1.08) + 13 keys= ~ 1.6
http://www.tf2outpost.com/trade/10432451
no offers, money B/O
http://www.tf2outpost.com/trade/11544171
Zeryon bought it for 1.7
Basically it is supposed to reflect current prices, which 2+months ago is not (one sale of 2 buds supposedly) Since then it has been sold and resold much less.
It did need a slight bump in price up.