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Resuggesting with some more recent sales
Sales
http://www.tf2outpost.com/trade/25099281 - bought for CV YNW ~8.3*0.9 = ~7.5 ( http://backpack.tf/profiles/76561198072507984?time=1424186659 )
http://www.tf2outpost.com/trade/24450035 - offered along with 14 keys pure on aces pullover ~8 = ~7
http://www.tf2outpost.com/trade/25007967 - sold for 6.5 pure
http://www.tf2outpost.com/trade/24969922 - sold for darkblaze metal modest ~7.9 ( http://backpack.tf/profiles/76561198045485305?time=1424073600 )
http://www.tf2outpost.com/trade/24666019 - offered on frostbite burglerre ~4.1 + ~2.7 pure = ~6.8
Considering sales from my previous suggestion as old/invalid/outliers and so on. The ones above are the most recent ones, when 5 MG honchos were in existence.
Darkblaze metal modest:
http://www.tf2outpost.com/trade/25198801 - sold for clean scorching noble ~8.75*0.9 = ~7.9
I would like to add that i bought mine for a scorching rubber glove + 3 in unusuals (but my honcho is gifted). Good price range, perhaps 7-9 would be a better range though
The fact that your rubber glove was duped is also worth mentioning.
But gifted one can't be used as proof anyways.
I just wanted to mention it since you didn't have my acquisition of the honcho :)
Due to most sales being between 7 - 8 and 6.5 seeming like an outlier perhaps a.min of 7 would be more adequate.
Sales at 6.5, 6.8, 7, 7.5, 7.9.