Merriam-Webster Collegiate Dictionary - appreciate

 verb  (-ated; -ating)  Etymology: Late Latin appretiatus, past participle of appretiare, from Latin ad- + pretium price — more at price  Date: 1655  transitive verb  1.  a. to grasp the nature, worth, quality, or significance of ~ the difference between right and wrong  b. to value or admire highly ~s our work  c. to judge with heightened perception or understanding ; be fully aware of must see it to ~ it  d. to recognize with gratitude certainly ~s your kindness  2. to increase the value of  intransitive verb to increase in number or value  • appreciator noun  • appreciatory adjective Synonyms:  ~, value, prize, treasure, cherish mean to hold in high estimation. ~ often connotes sufficient understanding to enjoy or admire a thing's excellence ~s fine wine. value implies rating a thing highly for its intrinsic worth values our friendship. prize implies taking a deep pride in something one possesses Americans prize their freedom. treasure emphasizes jealously safeguarding something considered precious a treasured memento. cherish implies a special love and care for something cherishes her children above all.  Synonym: see in addition understand. APPRECIATION  noun  Date: 1604  1.  a. judgment, evaluation; especially a favorable critical estimate  b. sensitive awareness; especially recognition of aesthetic values  c. an expression of admiration, approval, or gratitude  2. increase in value