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I sold my Dead Presidents Tungsten Toque + 1 bud for a Bubbling Bubble Pipe after roughly 1.5 weeks on Outpost.
http://www.tf2outpost.com/trade/13700399
Proof: http://i.epvpimg.com/Y2TCe.png
The reason I chose 2.5 as High Value is, Bubble Pipes are not really selling above 3.5 anymore. Here is a 3.5 trade that's on OP for over a month
http://www.tf2outpost.com/trade/13022911
Back to Tungsten Toque.
Sold:
http://www.tf2outpost.com/trade/13630374 <- went for Electrostatic Coupe (2 buds)
http://www.tf2outpost.com/trade/13485522 <- went for 2 buds pure
http://www.tf2outpost.com/trade/13426930 <- b/o of 2 buds, got a Toque for it
Unsold
http://www.tf2outpost.com/trade/13600165 <- 129$ or 3.2 buds, no c/o
http://www.tf2outpost.com/trade/13759955 <- 4 buds, no c/o
I do not know where 2 bud end comes from.
There is no indication that trade one traded for a electrostatic coupe (I know why though) and you need to apply overpay on it anyway (Making it ~1.8)
Link #2 sold to a massive reseller so It probably did not sell for 2.
Link #3 bonnet is not worth nearly that amount. And I also dont know how you say he got the toque.