Luxembourg’s transition to fare-free public transport in March 2020 sparked animated public debate in the country and beyond, including discussions about the “value” and “devaluation” of public transport services and work. While some contended that the removing the price of use would lead to a decline in public transportation’s worth, others argued that the transformation would bring new sources of value for users, workers, and the national brand. Drawing from ethnographic research conducted between 2018 and 2022, this dissertation traces the transition to fare-free public transport in Luxembourg as well as past and future imaginaries of transportation in the country vis-à-vis imaginaries of the nation, public transport use, and transportation sector work. In so doing, it not only illuminates diverse aspects of a transport policy that is increasingly being debated and enacted around the world, but also sheds light on broader issues regarding contemporary mobility practices and labor configurations. Drawing from this ethnographic data, it builds upon existing value theories to develop a novel conceptual framework for devaluation.