Spatial models are employed to represent conceptual data in a wide range of fields within psychological research. In order to generate spatial models, it is necessary to first obtain empirical similarity data. A number of methods are available for collecting these data, but little effort has been made to compare their relative utility. In this article, we compare directly rated and five feature-based similarity data types in regard to their ability to be adequately represented by a spatial model (representational goodness of fit), and the ability of the representations to predict three external empirical variables (predictive validity). The results indicate that the representational goodness of fit of the feature-based similarities is noticeably superior to the directly rated similarities, and that the predictions of representations derived from common feature similarity data are substantially more likely than the predictions of all of the alternative representations. It is suggested that these findings are highly relevant to researchers employing spatial models to represent conceptual data, given that direct pairwise ratings have generally been considered the “gold standard” means of obtaining empirical similarities.