More ways to burn your frequent flyer miles: miles auctions {Gadling}

Nov 14th 2008 11:52PM If you have miles you don't need immediately, especially if you are worried the airline will go bankrupt or change their policies so the miles decrease in value, don't by overpriced steak knives and stuff like that. Get cash for your miles, and then save the money for when you travel, instead of saving the less-versatile miles.

You can find someone in person on craigslist or anywhere else, and meet them in a coffee house with internet and they give you the money, you buy them the tickets, and they can call to confirm them before money changes hands. You can basically do the same thing in a safer way, with escrow accounts and etc but more overhead of fees, through http://points.com or http://flyhub.com.