Longman Dictionary of Contemporary English homepage

appreciation

noun
     
ap‧pre‧ci‧a‧tion
1 [uncountable] pleasure you feel when you realize something is good, useful, or well done
appreciation of
It helps children to develop an appreciation of poetry and literature.
2 [uncountable] a feeling of being grateful for something someone has done
show/express your appreciation
The chairman asked me to express our appreciation of all your hard work.
He was presented with a watch in appreciation of his long service.
3 [uncountable and countable] an understanding of the importance or meaning of something
appreciation of
a realistic appreciation of the situation
4 [singular, uncountable] a rise in value, especially of land or possessions [≠ depreciation]:
an appreciation of 50% in property values

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