All right, I have done the exercise of valuating my points. In the last few years, I had:
- 4 domestic awards
- 8 international long haul upgrades
- 3 flights points+pay
- 1 hotel points+pay
The interesting bit of the exercise is to put a value to each of those items, and that's very personal. Let's take a Y -> J upgrade on SYD->LHR. It would cost thousands of $$ of ticket value, but I wouldn't pay that much with my own pocket. I tried to put a dollar value, thinking how much I would have been happy to pay for the upgrade, and also, how much I would have accepted for the equivalent downgrade. Yes, those two numbers should be equal for a perfectly rational brain; it took me a few iterations to get those numbers to converge to the same value. I came up with 350AUD. I guess that's probably lower than most of the aff members
Anyway, I found out that my point valuation is between 0.30 cents and 1.1 cents, with an average at 0.54.
At least my hotel booking mentioned above was at 0.73 according to my own value (and would be higher according to the advertised price)
But ... woolies gift card is at 0.53