There was an article in today's NYTimes that showed the cost differential between starting an RTW ticket in New York versus London or Paris. The cost is significantly lower to start in Europe it seems. So, if I live in the US....

Does it make sense to buy an RTW that starts in Europe, and to buy a cheap RT ticket between the US and my European starting point that has a return date like 11 months from the departure?

eg. Buy RT JFK-LHR-JFK ticket for $400, dep. JFK --> LHR September 15, 2006. Use RTW ticket on Sept 16 to take 3 week vacation to Europe, India, Asia, arrive in New York October 10 or so. Put tickets in drawer.

On August 15, 2007, use last leg of RTW ticket to go to London for a week. On August 22, 2007 use the return part of JFK-LHR-JFK ticket to get back home. Voila -- 2 years worth of vacations and I've saved some money!

Would this work? And, if so, are you all laughing at me for just figuring this out now?

Yes, No.

I would go with, Yes, and just a little.

Some considerations:
- purchase cost of most RTW tickets varies by country, so it isn't the same everywhere in Europe. UK is one of the more expensive origination points. The price is different for each product, so which country is cheapest to start in depends upon which RTW product you are buying, but for example Sweden is a popular starting point.
- most discount fares have maximum stay restrictions, often 30 days and rarely over 90 days, so your JFK-LHF-JFK ticket might be more expensive than you expect if you want to stay for a full year. Using award tickets is a common way to get around this.
- it is fairly easy to break a RTW ticket into multiple segments, and get 3 or 4 vacations out of it. E.g. fly to Asia on the RTW, buy cheap return ticket e.g. BKK-JFK-BKK and continue the RTW a few months later.

Lots more, but this should give you the idea of what to look for.

Yay! Another light bulb has just gone on over my head, thanks to FT!

Heck, I didn't even know about RTW tickets until earlier this year, when a business trip caused my company travel agent to get me one. And now, I'm figuring out how to take advantage of them as a true FTer would.

Of course, I will have to stop in Madrid and Santiago as part of my newly discovered RTW trip!! Thanks Viajero.

ps. Now how does one go about buying an RTW ticket in London or Paris? I suppose my travel agent here can't do it...?

I'm not too familiar with RTW tix, but I believe you can just call your favorite oneworld carrier and book the RTW that way, starting where ever you'd like. A couple questions:

--Why not start your RTW somewhere super cheap, like say in Asia somewhere?

--Why not use miles to get an award ticket to your destination? You'll probably earn back those miles really easily, and they're flexible enough to allow a long "stay."

Yoiur US TA can, in theory, do it, but not at UK/France prices, and in any case that is not the way to go with this ticket. Your best bet is to first look at the sticky threads with the prices and the FAQs, then decide on a starting point and a tentative itinerary, and finally post it all here together with your questions and take it from there. Contacting the airline, or a TA, should be the last step.