Diminished value
Adding local short description: "Loss of a property's market value due to damage", overriding Wikidata description "economic loss in a property's value as a result of having been damaged"
| ← Previous revision | Revision as of 11:00, 21 April 2026 | ||
| Line 1: | Line 1: | ||
{{Short description|Loss of a property's market value due to damage}} |
|||
'''Diminished value''' or '''diminution in value''' are the terms generally used to describe the loss in a property's market value after it was damaged in an accident and repaired. Diminished value is most often associated with automobiles but it is applicable to other property of value including real estate or collectibles such as jewelry and artwork. If a property was damaged and repair failed to restore it to its original market value then said property has suffered diminished value. |
'''Diminished value''' or '''diminution in value''' are the terms generally used to describe the loss in a property's market value after it was damaged in an accident and repaired. Diminished value is most often associated with automobiles but it is applicable to other property of value including real estate or collectibles such as jewelry and artwork. If a property was damaged and repair failed to restore it to its original market value then said property has suffered diminished value. |
||
