1 [uncountable, countable] how much something is worth in money or other goods for which it can be exchanged to go up/rise/increase in value to go down/fall/drop in value rising property values The winner will receive a prize to the value of £1 000. Sports cars tend to hold their value well. 2 [uncountable] (especially British English) how much something is worth compared with its price to be good/excellent value (= worth the money it costs) to be bad/poor value (= not worth the money it costs) Larger sizes give the best value for money. They're only £40—not bad value, really. This great value-for-money offer is only available to society members.