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Join Date: Sep 2002
Location: LAX/TPE
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Calculating Fair Value
OK...hope this is on topic. My friend, someone I have known for 20 years (we were college classmates) is willing to redeem some of his miles for me to fly to Asia this summer. I obviously want to reimburse him for some value of the miles. What is a good rule of thumb for figuring out how much the free ticket is worth (this is a business class ticket on CX going to SIN) so I can offer a fair and reasonable amount for his trouble. 1.5 cents/mile would yield a price of about 1600. I could buy my own ticket and use my own miles to upgrade for that price. Would 800 be reasonable? I have never done this before, so I have no idea what is fair. I certainly don't want to short change him, and he won't sell the miles through a broker.