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Coffee quality is generally evaluated through cupping, a technique based on sensory perceptions. Trained cuppers assign scores to ten quality attributes on a scale of 1 to 10. Exposure of coffee to moisture and/or oxygen during storage and/or transportation can affect the sensory evaluation and reduce the price received by farmers. This paper has two objectives. First, it estimates the effect of sensory scores and water activity on coffee price and its price differential from the market price. Second, it explores coffee sensory scores sensitivity to storage duration and water activity under two methods of application of the Purdue Improved Crop Storage (PICS) bags - the standard three layers PICS bag (PICS-3L) and the two layers PICS bag (PICS-2L). Data were collected for ten months from an experiment conducted in Manizales, Colombia. Results suggest, on average, that an additional point in the score of flavor or body increases the price of coffee by at least 66 COP/kg (0.015 USD/kg). If coffee has an additional point in aftertaste or uniformity from what is expected from other coffees of the same origin, then its price differential is reduced by at least 8 COP/kg (0.002 USD/kg). Using a PICS-3L bag instead of a PICS-2L bag does not affect the coffee price or sensory scores, but it reduces the price differential by approximately 18 COP/kg (0.004 USD/kg). On the other hand, water activity reduces coffee price but not its price differential. Storage time affects coffee sensory scores in some attributes, which may impact the coffee bean price.