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 1789; 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.
he expressed his appreciation in a short note
an appreciation of 30% in the value of real estate
appraise
appraiser
appreciable
appreciate
appreciated
appreciation
appreciative
apprehend
apprehensible
apprehension
apprehensive