No, if people would not value something, why the heck would they want to buy it in the first place (i.e. create demand for it)? Value is the cause of demand, demand is the effect of value, if this clarifies things a little. The notion of supply is superfluous here and, yes, it is caused by demand (either open or hidden)...
I think we're both confusing which "value" the other is talking about.
Value
1. the regard that something is held to deserve; the importance, worth, or usefulness of something.
2. estimate the monetary worth of (something).
Your saying that because someone perceives to value (no. ) a G/S they will purchase it, or be willing to purchase it thus creating demand. My argument is that it is this demand which in turn results in it having value (no. 2).
Actually, it is you who are confusing issues here. The monetary worthiness of something which is determined through exchange is called
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