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Schwartz's theory of basic human values has become the dominant and empirically best-validated framework for assessing human values in surveys. One of the strengths of Schwartz's framework is that it allows for different levels of analysis. Because of the framework's quasi-circumplex structure, the 10 basic human values can be reliably assigned to 4 higher-order value dimensions: Openness-to-Change, Conservation, Self-Transcendence, and Self-Enhancement. In this paper, we examine the psychometric properties of the Higher-Order-Value Scale-17 (HOVS17), a brief inventory that aims to economically assess these 4 higher-order values, rather than the 10 basic values. We used data from the GESIS Panel, an ongoing probability-based longitudinal panel study that assesses values annually via the HOVS17. Both the inventory as a whole and the 4 subscales show good structural/factorial validity and reliabilities, including moderate 1-year test-retest stabilities. The subscales were sensitive to socio-demographic group differences in values and correlated in theoretically plausible ways with a wide range of correlates and criteria such as personality traits and well-being. This demonstrates that HOVS17 provides a sound basis for studying the development, precursors, and consequences of the higher-order values in GESIS Panel or in future surveys that adopt HOVS17.