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gratitude; thankful recognition:
They showed their appreciation by giving him a gold watch.
the act of estimating the qualities of things and giving them their proper value.
clear perception or recognition, especially of aesthetic quality:
a course in art appreciation.
an increase or rise in the value of property, goods, etc.
critical notice; evaluation; opinion, as of a situation, person, etc.
a critique or written evaluation, especially when favorable.
Contemporary Examples

appreciation and humility, however, were hardly the character traits Kaye was recognized for in the late 1990s.
Hollywood’s Craziest Director Tony Kaye, Seeks Redemption, With ‘Detachment’ Chris Lee March 14, 2012

That’s not to say there’s any less an appreciation of perfect anatomy and impeccable tailoring on the Astroturf than in the Tents.
Hot Dogs! Rebecca Dana February 15, 2010

But Tom Boswell makes it all look easy, gliding between the seasons with appreciation and acerbic wit.
The Best Columns of the Year John Avlon December 30, 2013

Click on the picture to see it much enlarged, which is crucial to its appreciation.
Icarus Needed a Higher SPF Blake Gopnik April 30, 2013

She showed an appreciation for life uncommon for a girl her age.
Obama’s Arizona Speech: Video and Text The Daily Beast January 12, 2011

Historical Examples

Everyone likes to be treated with appreciation and understanding and is willing to repay the same in like form.
The Psychology of Salesmanship William Walker Atkinson

Grace’s face was alight with appreciation of Mrs. Gray’s gift.
Grace Harlowe’s Return to Overton Campus Jessie Graham Flower

So that the poor man had to beg his dismissal; get it, and go to Denmark for new promotion and appreciation.
History of Friedrich II. of Prussia, Vol. XIX. (of XXI.) Thomas Carlyle

She was not prepared for their wholehearted praise, for their delight and appreciation.
Her Father’s Daughter Gene Stratton-Porter

In this process of appreciation and learning the primitive method of trial and error comes into the service of imitation.
Introduction to the Science of Sociology Robert E. Park

noun
thanks or gratitude
assessment of the true worth or value of persons or things
perceptive recognition of qualities, as in art
an increase in value, as of goods or property
a written review of a book, etc, esp when favourable
n.

c.1600 (with an isolated use from c.1400), from Anglo-French appreciation, noun of action from Old French apprécier (14c.), from Late Latin appretiare “estimate the quality of” (see appreciate). Generally with a sense of “high estimation” from c.1650. Meaning “expression of (favorable) estimation” is from 1858; sense of “rise in value” is from c.1790.