Despite the high levels of team identification associated with many sport fans, previous research has established that even these consumers must be enticed with offers that are perceived to be good values before making a purchase. The current study examined three key areas related to perceived value in a spectator sport setting. First, we tested and confirmed the mediating effect of perceived value on the relationship between team identification and purchase intention in the context of sport event tickets. Second, we examined search intention as a behavioral outcome in an environment (i.e., the Internet) where searching for alternative products is commonplace as online search costs are especially low. Finally, in an effort to further understand the concept of perceived value, we examined the use of the contingent valuation method as a means to measure consumers’ perceived value.