Hi brdlands2, I'll jump in late with a "maybe..."
If (guessing from your screen name) your site is about birdwatching and your expertise in the field has exposed you to lots of cool birdhouse dealers that you want to tell your readers about - that's valuable.
Make a page that looks pretty much like an article, write a little about birdhouses at the top, then provide a list of links to your favorite birdhouse dealers below that. If you can separate each link with a photo of their house or a little blurb about what they do, that's even better.
If you break up all the links you want to share and present them in groups like this, then you are not just creating one boring, outdated, low-value, and suspicious looking "Links Page". Instead you are creating a multitude of informational articles and adding decent content to your site.
I've done an occasional blog post this way when I'm stuck for something to write...