dare to re-gift?

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This is a somewhat risky topic to openly discuss, but as the holidays lurk and are now just about three months away, I've been considering re-gifting.  Let me begin by saying, in general my approach to gift giving is thoughtful.  I'm not one to buy a gift simply because it's a birthday or someone is expecting it (be it the receiver or anyone else).  As someone who has received a number of items over the years I would never select for myself, I tread somewhat cautiously and have some guidelines I apply in the area of re-gifting.  Warning: my gift-giving is not always on time.

I believe giving a gift is about the person getting the gift.  I don't need to make a statement with what I give. I simply want him/her/them to be happy with the gift.

My philosophy comes from knowing what I like and will use and learning what others like and will enjoy.  I don't like to have a lot of items around I won't use, so if I know I won't use something someone gave me, I place it into a large box I keep in my closet.  In the box are a number of items (and not all were once gifts to me) ranging from pretty notebooks to socks to a earrings.  I have been collecting things in the box for years.  If I'm shopping and see something for less than $5 (typically from the dollar bins) that I think is cute and would give to a friend, I often buy it and put it in the box.  This is helpful when I put together a package and want to add in something unexpected.

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Another helpful thing (especially if you're concerned you'll give an item back to the person who gave it to you or to someone they know who would recognize it) is label the gift with masking tape or keep an inventory list.  In my box, I have a list of items (not all the items, just ones I need to remember) that acts as an inventory list.  There are two columns: item and who it came from.

My Rules for Re-gifting (giving away something someone else gave you):

• The item has to be unused and preferably with tags or in its original packaging (same condition you received it in)
• The item is given in a different circle from where it originated (i.e. if you get something from your dad don't re-gift to your brother, perhaps give it to a friend outside the family)

What's your opinion on re-gifting?  Have you done it before?