Focusing attention on one item typically interferes with the ability to process other information. Yet, target detection can both facilitate memory for items paired with the target (the attentional boost effect) and increase the perceived value of those items (cued approach). Because long-term memory is better for valuable items than for neutral items, we asked whether the attentional boost effect is due to changes in the perceived value of items that are paired with targets. In three experiments, participants memorised a series of briefly presented images that depicted valuable (e.g., food) or neutral (e.g., children's toys) items. Whenever an item appeared, a square flashed in its centre. Participants pressed a button if the square was a target colour but not if it was a distractor colour. Consistent with previous research, targetpaired items were remembered better than distractor-paired items and were rated as more valuable. Importantly, if memory for target-paired items is enhanced because they increased in perceived value, then valuable items should have been better remembered than neutral items. However, we found no evidence that value enhanced memory for the items in this task. Thus, it is unlikely that the attentional boost effect is due to changes in perceived value.