ˌæd.mɚˈeɪʃ.ən əˌpɹiː.ʃiˈeɪ.ʃən ɡɹɑːsp ɡɹæsp teɪst an increase in price or value an appreciation of 30% in the value of real estate a favorable judgment a small token in admiration of your works delicate discrimination (especially of esthetic values) arrogance and lack of taste contributed to his rapid success to ask at that particular time was the ultimate in bad taste understanding of the nature or meaning or quality or magnitude of something he has a good grasp of accounting practices an expression of gratitude he expressed his appreciation in a short note