How much is it worth?
 

I know there is a formula that will tell you if it makes financial sense to use frequent flier miles versus paying for the fare. I think they put a value of every mile at a specific cent value? Thanks for you help.

I cant remember the actual cent amount per mile but from what I've read and have done in the past tickets should cost more than $750.00

This is a more difficult question than it appears to be, because part of it depends on what you do to GET the miles. You also have to discount against the miles you WOULD have received if you had purchased the ticket, vs. buying it. If you can get 1.5 cents in airfare equivalent against each mile you trade for an award ticket, you're doing okay. Often enough, I've done better than two cents, which is excellent value. In view of the strings attached to basic level domestic award tickets, a $375 ticket vs. 25,000 miles is a decent trade. For a lot less than that amount, you should be thinking about buying the ticket for cash to build more miles and status.

The airline are all liquidating their FF miles in due time. Sell! Sell! Sell!

Another variable is what you did to get the miles -- e.g., if you used a FF mileage credit card, you have to figure in whatever the yearly fee is, plus whatever you might have paid in finance fees if you didn't pay all off each cycle.

Consumer Reports puts one mile equivalant to 2 cents.