1. Recognition and enjoyment of the good qualities of someone or something. "I smiled in appreciation"
Synonyms: valuing, respect, prizing, cherishing, treasuring, admiration, regard, esteem, high opinion "appreciation of literature comes only from first-hand study of the works of great writers"
2. A full understanding of a situation. "the bank's lack of appreciation of their problems"
Synonyms: acknowledgement, recognition, realization, knowledge; awareness, consciousness, cognizance; sensitivity, alertness; sympathy, understanding, comprehension, perception, discernment "he gained an appreciation of the significance of teamwork"