They look like the same fezes. To be fair, mine are $4.21 + 2.99 in shipping, and I am just assuming that a bulk order will include appropriate rather than multiplied shipping. I'll order 25 (don't tell my wife).
The best I've found on fezes (very cheaply put together fezes) is $4.21 each through buy.com. Have you found anything better? If not, I'll check with the local party and costume stores and then order some.