I have a number of sites that generate a nice stream of revenue. Overall, I average about 90 cents per click from them, with a few $2 clicks coming in each day. Two weeks ago, I finally got around to launching a new site based on moderately high value key words ($10 - $20 in Adwords, on average). Click Through Rates have been good, but price per-click is awful! I'm averaging just 54 cents per click, with just as many $0.03 clicks as $1.00 clicks. Nothing has paid much above a buck, even though the ads that appear on my site seem very well targeted to this narrow topic. My question: Is this some Smart Pricing based effect, did I massively miscalculate this topic's value (unlikely), or are high dollar clicks just a myth now? Any tips? What's the highest value click you've seen recently, and what's the per-click value you average on your best site?