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I wish I still had my competence for suggesting...
http://www.tf2outpost.com/trade/24297342 - Sold for an Orbiting Planets Hot Dogger (1.17 * 0.9 = 1.053 rounded to 1.1 buds)
Checked the history, didn't find anything else, so I assume it was a straight deal. Link to the hat: http://www.tf2outpost.com/item/440,3382419578,614,5
The sale happened about 2 months ago, and it is the only sale in the last 3 months. The current owner has been selling to no avail. I think this is good.
Sold for Smoking Gatsby + Smoking Tam + GE Mongol(definitely above 1.1)
http://backpack.tf/profiles/76561198073984785?time=1421378154 -> http://backpack.tf/profiles/76561198073984785?time=1425283200
Sales look discrepant, maybe wait for another one?
Both sales seem like outliers to me, 1.1 seems overly low and 3ish seems very high, I personally would put this hat a little under 2, regardless we have to wait for a third sale to determine which way the range should go.