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appreciation (n.)

c. 1600 "act of estimating the quality and worth of something," from French appréciation, noun of action from apprécier (14c.), from Late Latin appretiare "estimate the quality of" (see appreciate).

Generally with a sense of "high estimation" after c. 1650; sense of "a rise in value" is by 1784; that of "act of setting a value on" is from 1799. Meaning "expression of (favorable) estimation" is from 1858. There is an isolated use of appreciacioun in Middle English (c. 1400) of uncertain meaning.

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Definitions of appreciation from WordNet

appreciation (n.)
understanding of the nature or meaning or quality or magnitude of something;
Synonyms: grasp / hold
appreciation (n.)
delicate discrimination (especially of aesthetic values);
Synonyms: taste / discernment / perceptiveness
appreciation (n.)
an expression of gratitude;
he expressed his appreciation in a short note
appreciation (n.)
a favorable judgment;
Synonyms: admiration
appreciation (n.)
an increase in price or value;
an appreciation of 30% in the value of real estate
From wordnet.princeton.edu