No sales in the last three months, dropping the price based on B/Os

16 keys:

http://i.imgur.com/PrNTHHA.png - 24 days, highly likely that it was re-listed, has owned the item for almost a year

http://backpack.tf/item/4499099941

http://backpack.tf/u/76561198090956917

18 keys:

http://i.imgur.com/4cXhiuo.png - 22 hours, almost guarantee that this was re-listed at some point. Seller has owned the item for about 5 months now

http://backpack.tf/item/5045180518

http://backpack.tf/u/76561198053252981

http://www.tf2outpost.com/trade/29069710

Criteria for B/O drops:

“You are dropping the hat” – Correct

“You must drop the mean value of the hat by at least 15% - Correct

“The trade must have a reasonable time to mature” “A good rule of thumb is to go by roughly 25 keys per week” – Correct

This information can be found here: http://forums.backpack.tf/index.php?/topic/6033-guide-for-unusual-price-suggestions/ (under Part 1)

Going with 16 flat.