Color preference in products has long been considered an essential component in making a purchase. However, the correlation between color preference and willingness to pay has not yet been revealed nowadays. In this study, an experimental study was conducted to examine whether there is a significant relationship between color preference in products and willingness to pay by studing 184 subjects. Among them, half of the subjects are students who are recruited from University in Macau; the other half are young people recruited from public places in Macau. There are three significant and promising results in this study. Firstly, the results show that there are positive relationship between color preference and willingness to pay. Secondly, they also prove that product's value is positively correlated to the willingness to pay for preferred color product. More importantly, the outcomes also reveal that when the product is more expensive, people relatively consider its color more important in buying. Last but not least, the results also find that there are different information processing strategies between different genders by exploring their behavior outcome from the experiment.