Is it fair to do a direct swap of Velocity and Qantas Points with a relative?

A relative and I want to swap some of his Velocity points for some of my Qantas points. It seems to be a nightmare deciding the relative value of a Velocity point compared to a Qantas point. We want to do a fair swap. Is there a simple answer?

I have made several bookings return from Perth to Sydney and Perth to Melbourne. On all occasions I have booked Virgin one way and Qantas the other based on the time choice for flights. It is six of one, half a dozen of the other with Virgin being ever so slightly cheaper points wise. If it were me, I’d be happy with a straight swap!


Everyone’s value on points is different. However, if you can’t agree on a value, Keith has provided his values as a reference. link.

So based on Keith’s valuation, 14,000 VFF = 12,000 QF.

As long as both are you come out of the swap happy, it should be a good deal.