(EDIT, August 2014 – Avios Recycling has now been closed down by Avios)
Reader Pier dropped me a line to point out the Avios prices currently being paid by Avios Recycling for an iPad mini.
As you can see here, they are offering 15,550 Avios for the basic 16gb iPad mini.
Now, over on ebay, these are currently available from Argos Outlet for £223. Apple also has reconditioned models on its website for a few pounds more.
Even at the headline price, £223 for 15,550 Avios is 1.43p per Avios, which is cheaper than buying them from BA. However, if you can find a used or reconditioned iPad mini for less than this, then the deal gets even better. You may also be able to get Quidco or TopCashback cashback if you bought from Apple or Argos (I haven’t checked the rules on whether this would qualify).
Perhaps there is nothing here at all – but creative minds may be able to make it work. If you had a VAT registered business, for example, you could reclaim the VAT on the purchase which would bring down your initial price sharply.