There are many different meanings and interpretations of heritage values in the literature. We understand heritage values as ‘intangible’ representations - often based on both ‘physical’ and ‘intangible’ properties - which individuals associate with sites, objects, activities etc. It is therefore not only the fabric of heritage that is important when it comes to its values, rather it is a much wider sphere of interrelations between fabrics, impressions and narratives that constitute heritage values. Values can be negative or positive, they can be personal, shared by certain groups or universal; they can be conflicting; they can be relevant or irrelevant. Values can be graded or Boolean; they can be definitive or non-definitive of a given piece of heritage. But, perhaps most interestingly, values are ever-changing because they are created by people in specific contexts, at specific times. For effective heritage management, it is essential to identify the shared heritage values, and this will often require ethnographic research. Without identifying these values, it is impossible to identify which aspects of heritage should be protected or enhanced, and in which order of priority. We have to understand the complex character of the relationship between values and fabric, the ways they are connected and the other things these values are based upon. Understanding how heritage values work helps us understand how to manage them.