You're almost certainly not right when redeeming for higher-class fares (J/F), and you're even when redeeming for coach fares you may not come out ahead.
I did not advise the OP to sell his points, i simply told him how to go about making an educated decision, as i figured that he may not
be aware of the selling value of these points.
Parenthetically i flew this past January to Israel and i sold points to buy tickets with (for me, my wife, and daughter) and when
including all aspects i walked away with over $1000, that i would not have had, had i booked with points. This scenario may not be
typical but it is possible.