Originally Posted by
mahasamatman
Different people assign different values. I believe using retail cost as value is very naïve and really a cop-out for people who want to artificially inflate the value of their miles/points.
Only if you have no imagination. For example, you could probably pay $3K for a Business Class seat and upgrade to First for far less. But then you wouldn't be able to brag about your high redemption rate...
What is artificial about redeeming 100k miles for a first class seat that costs 15k? You don't sit there unless you pay 15k. Or in your other example of upgrading, the upgrade is worth 12k. There isn't anything artificial at all.
Just because you wouldn't pay 15k doesn't mean the value isn't 15k, it is quite the opposite. It is the reason we all use miles to redeem for first class international seats for it is the only way we would ever sit there as no one would pay 15k. It's the only way to experience it, so calculate your CPM and brag away, or I would just say you are a very savvy flyertalker.