That brings to mind the issue of HOW MUCH ARE POINTS WORTH? That has been discussed briefly in another tread on this site "Hotel Harvest in Japan" where another member mentioned 4200 points being valued at $630 using the average maintenance fee cost method; and I mentioned that they would be valued by me as a few thousand dollars using the cost of a hotel room for a couple of weeks since 4200 points is about 2 weeks in a studio in the HGVC system. I would certainly buy the 4200 points at the $630 price. I wouldn't sell my points for that amount.
Depends.
Some folks value their points strictly based on their MF which is going to vary quite a bit depending on where/when you bought (in terms of size, etc.).
Others will fold in their initial purchase price (probably amortized) over 10, 15, 20 years, so that's another factor.
Still others will value it based upon the market. For example, 4,800 points for an "off season" in Orlando will be "worth" far less than 4800 points at HHV Lagoon Tower in January.
And I see others will value it on an "average" vacation (ie, if I were to not own and I had to pay cash to stay at HHV it'll cost me, $X/night so that's how much my points are worth).
Unfortunately there's no correct or same answer.
I might be willing to "sell" points for $0.20, others might want more. (I'm just using this as a hypothetical here).
I'd say the very least, some portion above the price/point (calculated by MF) is the "basement floor" for things.
But like all things in the free market, it's a supply and demand. How much are you willing to pay for something, etc.