While its true you its subjective to try and figure out the 'value' of a mile. It is rather straightforward to figure out the COST of a mile based on earning through flying. In general, that COST per mile will be significantly lower for a member who has top-tier elite status (50-100% bonuses) and who flies on cheap Z fare Business Class fares (50-100% bonuses).

In fact, I can give you a real life example:

I flew on a Z fare Business Class CLE-SGN and I have top tier status with KLM. My friend flew the same itin in close to full fare coach and he has no status.

Me:18000 (Q) + 22500 (125% KLM elite bonus) + 18000 (100% COS bonus)=
58500 miles/$1700 airfare -------> 3 cents cost per mile

Friend: 18000 (Q) + 0 (elite bonus) + 0 (COS bonus)=
18000 miles/$1500 airfare -------> 8 cents cost per mile


Irrespective how I decide to spend my miles, I clearly earned them for much less cost than my friend.

Savvy FTers can objectively lower their cost per mile even further by participating in promotions that provide bonus miles for flying particular routes or booking online. And of course, aggressive credit card purchasing that earns 'free' miles can significantly lower the overall cost basis for miles.


My methodology in 'costing' a mile is pretty straightforward. Example for illustration purposes only!!!

Miles from flying: 50000 Cost: $2500
Bonus miles: 25000 Cost: $0
Credit Card miles: 25000 Cost: $0

Total Miles 100,000 Cost: $2500
TOTAL COST PER MILE: 2.5 cents per mile

With that 100,000 miles that cost me $2500, my best options are:
* 4- 25000 mile domestic coach awards
* 2- 50000 mile US-Europe/S America coach awards
* 1- 90,000 mile US-Asia/Australia Business Class award
* 1- 100,000 mile US-Europe First Class award

How each FTer 'values' these award redemption choices is subjective, based on individual needs and perceptions. But, there's NO DOUBT that 100,000 miles truly cost $2500 in that example. That methodology, I believe, offers a compelling apples-to-apples comparison of the COST of a mile.

Finally, as we all know plenty of people with loads of miles, but limited ability to redeem them. The 'value' of a mile can increase considerably if the member is in the top-tier of their program, where in some instances there is preferential award inventory available.