This study investigated whether endorsement of personal values is associated with willingness to pay more for mobile phones with an environmental or social sustainability label. Participants were students in Sweden, Norway and Germany. A self-report inventory was used to measure willingness to pay and the importance attached to values of Schwartz's circular model. In Sweden and Norway, participants were willing to pay, on average, 18% extra for a mobile phone with labels for environmental or social sustainability. In Germany, the corresponding share was 12%. To strive for self-enhancement values, that is, social status and prestige, as well as control and dominance over people and resources, was associated with a lower willingness to pay for mobile phones with labels for environmental or social sustainability in all three countries. Furthermore, women were willing to pay more than men for mobile phones with both kinds of sustainability labels. In Sweden and Norway, participants were, on average, willing to pay more for a mobile phone with a label for social sustainability compared to a mobile phone with a label for environmental sustainability. © 2019 Informa UK Limited, trading as Taylor & Francis Group.