Definition of "appreciation"

appreciation

/əˌpɹiː.ʃiˈeɪ.ʃən/

noun
countable and uncountable, plural appreciations
1. The act of appreciating.
2. A fair valuation or estimate of merit, worth, weight, etc.; recognition of excellence; gratitude and esteem.
3. Accurate perception; true estimation.
  Quotations
  The English, until relatively recently, seem to have imagined “English” and “British” to be interchangeable, as if Britain was just a bigger England. Our dualism gave us a better appreciation of the nation-state we lived in, though if Britain was a “nation” as well as a “state”, where did that leave Scotland?
  2014 September 16, Ian Jack, “Is this the end of Britishness”, in The Guardian
  His foreboding showed his appreciation of Henry's character.
  1874, John Richard Green, History of the English People, Volume I
4. A rise in value.