I would *guess* that an experienced user (or good corporate travel agent) could find NYC-HKG-DPS-NYC all in J for $5k. All, or most, in true three-cabin F, for $10-12k. This doesn't assume any extreme corporate discounting...

Or...couldn't you go a different way and say the maximum cost is really whatever it would cost you to buy the miles for the necessary "anytime" awards? Not sure if that'd be higher or not...

In any case, I'd go an even simpler route: I'd multiply the cost in miles by 2 cents (or so) and ask myself if I think the trip is worth it. I'd probably say YES and book the trip. Although I'd also do my best to get that NYC-HKG piece on CX if possible...