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1.
Often used by Aussies to describe a person who is good to hang out with, easygoing, friendly, and not too sensitive or high maintenance. Can be used to describe males or females.
"Hey Mate, mind if I bring a work mate of mine to this party of yours? don't worry - he's good value."

"Hey did you meet that Sally girl at that party? She was good value"
by Leigh B February 02, 2007
 
2.
a (usually) female friend who is good fun, intelligent, attractive enough to be seen in public with and open-minded enough to share in boys' dirty jokes, but who for various reasons (i.e, she's not enough of a princess or she's too clean to be a slut) would never be relationship material. versatile and enjoyable, this girl can be taken to live music gigs, makes a pleasing presence at bbqs and gives helpful, rational advice about boys' troubles with the princesses and the sluts, all the while wondering what the hell she's doing wrong...
"lisa? oh she's great, nice girl. good value.... shag her? no man she's like my sister! and that means YOU'RE not going anywhere near it either."
by ekseks October 25, 2006