This hat is completely underrated according to the current price and the ones on Outpost

Original prices used and overpay applied when necessary. Buds at 17 keys

Proof #1:

http://www.tf2outpost.com/trade/15289957

Offers of (in order of price):

- Hearts Billycock (~2.3) - Very outdated price. Infalted, it's 3.1

- Beams Panama (~2.4) - Also very outdated. Inflated, it's 3.1

- 3 buds pure (3)

- GE Noir (~3.5)

- Time Warp Noir (~3.8)

Sold for: Heart Brigade (~4): http://backpack.tf/vote/id/52adda824dd7b827378b4568

Total: ~3.6 buds

Proof #2:

http://www.tf2outpost.com/trade/16040799

Sold for: Miami Panama (~3).

Total: ~2.8 buds - Outlier

Proof #3:

http://www.tf2outpost.com/trade/16131457

Sold for: PE Yellow Belt (~3.8)

Total: ~3.6 buds

Proof #4:

http://www.tf2outpost.com/trade/15590066

Sold the GE Fedora (~5) for: Hearts Noir + Vivid Plasma Fedora (~2.9)

Total: ~2 buds - outlier

Conclusion

It's obvious, with offers above the high-end of this hat, that this is an outdated price, even if it was accepted just 2 months ago. Currently 3 on outpost and 36 in existance. One guy is selling as a set. One on Outpost asking for 3.4: http://www.tf2outpost.com/trade/16337960 which is where the low-end comes from. High-end comes from all the unusuals, as I took the mid-range of each of them and multiplied them by 0.9, as polar bear requested. Hope this is better. Thanks for reading. Upvote/Downvote/More Proof/Counter-Proof/Rage/Help/Tips are all welcome I guess. kthxbye.

Please tell me if the Panama should be used as an outlier, or it should be in range. Thanks. (Edit:) Woifi says it's an Outlier.