Alright where do we start. (Note, I have no intention of selling mine, this is an old price, it's time to update.)

The hat: God Tier

The effect: Mid Tier

Proof of those who are selling for 4 pure or close to, or near.

http://www.tf2outpost.com/trade/8595141

C/os: 64 keys~ 2.9 buds

bud + max~ 3.2 buds

http://www.tf2outpost.com/trade/13021059

b/o: 4 buds

http://www.tf2outpost.com/trade/13114280

b/o: 3 buds

http://www.tf2outpost.com/trade/12698748

b/o: 4 buds

With that being said, the price should be much higher given the proof.