How often do you regift presents, and is it socially acceptable?

I regift lots of stuff, my cousin usually likes the sorts of things that two of my girlfriends buy me and I can’t always afford to buy a decent gift for her (most of the time, I shop for people, but I also regift lots of stuff). My other friend gave me a lovely piece of jewellery and another one an evening bag, both of which are better suited to my younger girlfriend, a much younger woman than myself.

How often do you regift presents, and is it socially acceptable?
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