I value my leasure time >> my money (at least within typical gift cost amounts). The value of a gift chosen by someone who knows my preferences well enough is primarily the value of time I did not have to spend on finding something matching my preferences well enough >> the monetary value of the gift.
P.S. Edited to add: as an additional bonus, people would often give the type of gifts where their expertise exceeds mine, so they end up giving me something better than I would even know to get myself (e.g. they have a better sense of style and can gift me something that would look well on me).
I value my leasure time >> my money (at least within typical gift cost amounts). The value of a gift chosen by someone who knows my preferences well enough is primarily the value of time I did not have to spend on finding something matching my preferences well enough >> the monetary value of the gift.
P.S. Edited to add: as an additional bonus, people would often give the type of gifts where their expertise exceeds mine, so they end up giving me something better than I would even know to get myself (e.g. they have a better sense of style and can gift me something that would look well on me).