appreciation

(noun) understanding of the nature or meaning or quality or magnitude of something. Synonyms: grasp, hold. Examples: "He has a good grasp of accounting practices."

(noun) delicate discrimination (especially of aesthetic values). Synonyms: taste, discernment, perceptiveness. Examples: "Arrogance and lack of taste contributed to his rapid success." "To ask at that particular time was the ultimate in bad taste."

(noun) an expression of gratitude. Examples: "He expressed his appreciation in a short note."

(noun) a favorable judgment. Synonyms: admiration. Examples: "A small token in admiration of your works."

(noun) an increase in price or value. Examples: "An appreciation of 30% in the value of real estate."