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Second straight hat I'm updating with a SCM sale.
http://www.tf2outpost.com/trade/27237990
http://i.imgur.com/UEAsJBq.png
I received $104.35 and the seller paid $119.99, with the key prices over the time period fluctuating around 2.38, that would be a range of 43.8-50.4, but I was willing to take 42, so I'll be using that as the price for this sale.
http://backpack.tf/profiles/76561198064273342?time=1447401600
http://backpack.tf/profiles/76561198064273342?time=1447574400
Bicorne appeared to be used in a 4:1 trade for a Beams Cowl, trade is too complicated on the Bicorne side to be used to price it.
http://backpack.tf/classifieds?item=Buccaneer%27s%20Bicorne&quality=5&tradable=1&craftable=1&effect=37&page=2
Current seller is looking for 47 Keys.
Thanks to Polar for the help in determining a better range from the previous suggestion.
Just going to leave a link to the previous suggestion here, because what Polar says there is fairly vital to the validity of this suggestion.
http://backpack.tf/vote/id/5648e365ba8d88105ca94aa1
I must insist any commenters read this before criticising here.