That price is for CLASSIC FLIGHT REWARDS and is the direct flight on Qantas only. You need to search on qantas.com and check the ‘Use points - Classic Flight Rewards only’ radio button and then enter your details. If there is a direct flight on Qantas in business, you should be able to book it for 60k points each. Keep in mind that you are not using ‘Points + Pay’ which is essentially paying for a cash ticket with points. Also, check you have only 1 adult selected when booking. The price shouldn’t be 240k.
Thanks, I guess I gave the conclusion of QFF being a scam too fast, I should apologize for that.
I give it a search using your method, and the required points for a one-way MEL-HK trip did drop to 77k for a business class. This is acceptable, but it is really “subject to availability”, as they claimed in small fonts.
I guess the reason why I saw much higher required points is that I chose “Use money, points or both”. It’s almost like I could choose any date using this option, but just have to pay much more points.