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Using the most recent two sales of this hat overpay and all that jazz calculated.
http://imgur.com/nNmCZN4 < ~6.5 buds sold for SF knife, SF amby ,Harvest Moon Backbiter's Billycock, Craft #11 flapjack, TS Bills, Haunted horseman cape and a Noh mercy
http://www.tf2outpost.com/trade/16136694 < ~5.4 buds Sold for Ghosts desert marauder and Misty skull big chief
What are you valuing the flapjack at?
About 4 keys to be on the safe side but even then it has a negligible impact on the range even if you assign it the value of a regular flapjack
K yeah just curious
http://www.tf2outpost.com/trade/16659982
offer of a bubbling tough muffs 3.5- 4 buds offer refused by seller. Way above current range
http://www.tf2outpost.com/trade/16382532
Offers of a Scorching flames bonk helm (3.5-4 buds), an offer of a vintage lumbricous lid (5.5 buds) and a discobeatdown private eye (unpriced but has been getting offers well above the current range for the hermes)
The previous suggestion should not have passed
Update:
http://www.tf2outpost.com/trade/16659982
Sold for 34 keys + $100 pp+ sweets down the road. Buyer is the server owner for the server the seller is an admin on.
s.f.knife (20 keys) + s.f.ambassador (6 keys) + h.moon billycock (3.6-4.2) + flapjack (let's assume 4 keys) + bills (7 keys) + haunted cape (1.66 ref) + noh mercy (2 ref)
= ~5.6 buds, with buds @ 18.5-19 keys on December 1st.
Your other sale at 34 keys + $100 + sweets comes out to be 4.8 buds + sweets with current prices.
While I support a higher range on this hat, your suggested range is a bit too high.