Previous consumer research on waste has prioritized disposable and low-involvement possessions. The authors extend scholarship into the context of obsolete buildings as a means to better engage with the complex materiality of waste and to explore the role anticonsumption plays in consumers' valuations of end-stage consumption. This study focuses on the phenomenon of urban exploration, a subculture who seek to discover and explore derelict buildings. Drawing on an ethnographic study including in-depth interviews, the authors reveal how anti-consumption manifests in the urban environment in terms of alternative understandings of value. In contrast to the economic valuations that often dominate public policy decision making, this study highlights the need for policy makers to consider diverse, and perhaps conflicting, value regimes. The authors propose an Obsolescence Impact Evaluation that enables a systematic assessment of the stakeholders potentially impacted by redevelopment and demolition, differing regimes of valuation relevant to the decision and potential uses of the buildings. The authors suggest various ways that public policy makers can take advantage of this tool.Public policy makers increasingly face pressure to reduce waste in line with the waste hierarchy (reduce, reuse, recycle). This has extended research attention from consumer acquisition to the often under-theorized end-stages of consumption (De Coverley et al. 2008; Parsons and Maclaran 2009). For example, prior research has focused on the scale and complexity of food waste (Block et al. 2016) and the various ways consumers seek to prolong the useful life of objects (Brosius, Fernandez and Cherrier 2013). Much of this research stream focuses on relatively low-involvement products. In this paper, we follow Prothero et al.'s (2011, p. 33) suggestion to expand the scope of consumption research into "significantly different contexts" and focus on obsolete buildings. We see this as an ideal context to better engage with the materiality of waste (Ekström 2015; Gregson and Crang 2010) and to explore the role anti-consumption plays in consumers' valuations of end-stage consumption.Our study focuses on the phenomenon of urban exploration, a subculture who seek to discover and explore derelict buildings (Garrett 2014). Urban explorers engage with the materiality of waste and photographically document these buildings to highlight a fascination with decay. Garrett's (2014) work suggests that urban exploration is driven by a resistance against the privatization of civic space. More broadly, Chatzidakis, Maclaran and Bradshaw (2012) explore how urban spaces can be appropriated by consumers as a resistance to consumerist and capitalist discourses in the mainstream marketplace. By moving beyond resistance, we explore how anti-consumption manifests in the urban environment in terms of alternative understandings of value. We are guided by the following research questions. How does anti-consumption manifest in the consumption of obsolete buildings? What values do ...