A bucaneers hat?

[Tarraz]

Where did these come from? I saw one which was black and looked like a 'just getting warmed up hat.'

How much are they worth roughly?

 

[Nihilism]

20 were handed out from the grotto dungeon. Of those 20, very few were individual players. Personally, I grabbed 3 chests and split them among 3 dif chars on my acct. getting 3 hats.
I believe the last one sold was to Flube, for 300k.