A Banach space X is said to have the alternative Daugavet property if for every (bounded and linear) rank-one operator T : X ā X there exists a modulus one scalar Ļ such that Id + ĻT = 1 + T . We give geometric characterizations of this property in the setting of C * -algebras, JB * -triples, and of their isometric preduals.For a real or complex Banach space X, we write X * for its topological dual and L(X) for the Banach algebra of bounded linear operators on X. We denote by T the set of modulus-one scalars.A Banach space X is said to have the alternative Daugavet property if the norm equalityholds for every rank-one operator T ā L(X) [38]. In such a case, all weakly compact operators on X also satisfy (aDE) (see [38, Theorem 2.2]). It is clear that a Banach space X has the alternative Daugavet property whenever X * has, but the reverse result does not hold [38, Example 4.4].Observe that (aDE) for an operator T just means that there exists a modulus-one scalar Ļ such that the operator S = ĻT satisfies the well-known Daugavet equationTherefore, the Daugavet property (i.e. every rank-one, equivalently, every weakly compact, operator satisfies (DE) [25, Theorem 2.3]) implies the alternative Daugavet property. Examples of spaces having the Daugavet property are C(K) and L 1 (Āµ), provided that K is perfect and Āµ does not have any atoms (see [45] for an elementary approach), and certain function algebras such as the disk algebra A(D) or the algebra of bounded analytic functions H ā [46,48]. A good introduction to the Daugavet equation is given in the books [3,4] and the state-of-the-art on the subject can be found in the papers [25,47]. For very recent results we refer the reader to [6,8,26,27,41] and references therein.