Points vs pay for syd to Auckland?

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I'm looking at booking return economy flights from Sydney to Auckland. Redemption value is $1.07c (pay = $588; points = 27000+$298)

Keen to hear thoughts on what people would do here as I know many people say the floor would be anything above 1c and generally aim for 2c+ for redemptions so is redeeming points in this case worth it? Or forkout $290 and save the points?
 
There's a trans tasman sale on currently.

This can mean classic+ can be better value across the dutch but only while the sale is on.
 
It looks like you're seeing Classic Plus pricing, which means you'll be getting exactly 1 cent/point in "value".

I'd save the points for something better and book a cash fare ;)
 
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So, while the sale is on until 25th June:

Classic award 36K points and $299 (with CC fee) 0.7¢ per point

Classic+ award 27K points and $299 1¢ per point

Dollars $567 and earn from 2K points and 40 SC (WP earns 4K)

For a short time there I thought you were referring to Points Plus Pay which gives a value of ½¢ per point.
 
There's no perfect answer to this question. If you're chasing those increasingly unicorn-esque long haul business class redemptions then yes 1c pp isn't very good.

If your goal is to get value out of your points and keep money in your pocket, I personally think 1c pp is perfectly acceptable. This is especially true if you have a lot of points banked up and/or don't have much travel on the horizon.

In your case, you're selling 27000 points for $290.

If you haven't already make sure you compare the money saved against all alternatives e.g. if there's a Jetstar or AirNZ flight that you would have been happy to catch that's cheaper than the $588 comparison fare, this is what you should be comparing your c/p savings against, not necessarily the exact Qantas flight.
 

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