Every Christmas, the question arises: Is regifting acceptable?

My answer:  Of course it is, as long as you follow a few basic rules.

1. With the exception of vintage collectibles, antiques, and family heirlooms, anything you regift should be new.
2. A re-gift should be re-wrapped (with special care to remove any tags).
3. You should re-gift only when you know that the new recipient will really enjoy the gift.
4. Never re-gift unless you are 100% sure of who gave you the gift originally.  Nothing is worse than giving someone back the gift he gave you.
5. Re-gift into a different social circle.  If you want to re-gift the sandwich maker Aunt Bev gave you, give it to Charlie at work.  If you aren't a fan of the scarf your friend Bentley gave you, you can re-gift it to your cousin. Like that.

Always remember, it really IS the thought that counts, so put some thought into it!  Even re-gifts.