Would 290k Qantas FF points and AUD 1400 in taxes be a worthwhile deal for 2 adults & 1 child flying Syd-Tokyo return on premium economy return?

Would 290k Qantas FF points and AUD 1400 in taxes be a worthwhile deal for 2 adults & 1 child flying Syd-Tokyo return on premium economy return? Travel is in June 2015. Return on upgradeable economy on QF is AUD 3,464 now but I'm only a bronze.

I picked random dates in June and for 2 & 1 the QFF site generated $6,324 for travel in PE (Out on 7th back on 14th).  This presents 290k points = $4,924 or approx 1.7cents per point value.  

One comparison can be purchasing gift cards through the QF store.  A $500 Woolworths card costs 74.7k points or 0.67 cents per point value.

Another comparison is a recent purchase of 3 x J (2 & 1) award tickets PER-HKG-JFK return on CX.  824k points + $1900 taxes etc.  At the time of purchasing them the 824k points equated to approx $24.1k or $2.9 cents per point.  Not sure what CX currently charge for 3 x J.

1.7c/pt isn't bad.  Some say anything > 2c/pt is good value.  

In the end the call is yours I've just tried to benchmark it for you.  Safe travels!!! :-)

Should say "2.9cents per point" ie no "$" :-)

Teresa,

How much do you have to pay for the same tickets through a revenue booking?

Thanks heaps, 11sjw. Very useful comparison. 

TheRealBabushka, PE return is A$6186 incl tax. 

You're welcome.  Hope it helps.

IMHO it would be better to catch JQ business on flight to Tokyo and pay money for ticket. It is day flight and easy bearable in JetStar bis seat. Reverse flight is overnight and you can burn your points to business in Qantas. This is what I would do.

IMHO save them for a upgrade to J on a proper long haul flight.   Flight time to and from Japan is actually pretty short.

Thanks Michael.  I guess I should've mentioned that the Syd-Tokyo return are overnight flights, no other choices on QF and my boy is only 3.