The use of AR technology for advertising is becoming more and more popular. For the efficacy of AR ad campaigns, consumers' attitudes towards AR ads are decisive. One of the major elements that determines consumers’ attitudes towards advertising is the perceived value of the ad. The aim of this study is to analyze the relationship between AR ad value and consumer attitude and to investigate the factors that affect the perceived value of AR ads among the youth both in Turkey and Germany. The mentioned relations were represented in a research model developed in the study. It was proposed that informativeness, entertainment, novelty, interactivity and self-efficacy have a positive effect on advertising value while irritation and deceptiveness have a negative effect. It was also proposed that ad value affects consumers’ attitudes positively. To test the proposed hypotheses, online surveys were conducted among a group of 365 respondents in Germany and a group of 391 respondents in Turkey. The survey results were then tested by Structural Equation Modeling (SEM). Contrary to expectations, the proposed research model as a whole did not fit and the hypotheses were not supported for Turkish consumers. For German consumers the model was fitted and the hypotheses were supported.