I have been arguing recently that a phenomenology of values such as we find in the work of Max Scheler¹ may be much less vulnerable to the Heideggerian critique and much more promising, despite its neglect, than has been generally supposed.² I have stressed, however, that this does not mean that theories such as Scheler's will not continue to face challenging difficulties, not the least of which may be precisely the ontological difficulty of articulating the mode in which values exist. In this essay, I wish to examine some of these difficulties and then to offer a number of suggestions as to how these might be resolved.