What I found interesting is that nobody can positively identify it as ambergris - which would make it valuable. But hang on a second... the reason ambergris is valuable is because it has some distinctive aroma and is used as perfume. So this doesn't seem like rocket science. Does the blob stink? If so, it's probably worth a fortune (except it is illegal to sell it in 2006). If not, it's just another blob - and worth about as much as this blob of old dog doo I found in my back yard. It's got a distinctive aroma, so I'm not taking a penny less than $400 for it.