I'm looking at bookings using Avios and these are the options I'm seeing:

4500 Avios or $112 cash

This values my Avios at about 2.5cents per Avios. This looks like a fair value to me. What do you think? What range of redemption value do you look for when redeeming Avios?

*this would be my first Avios redemption; I have 40,000 Avios and am unlikely to acquire anymore.