salvage value

noun

Legal Definition of salvage value 

1 : the value of damaged property

2 : the actual or estimated value realized on the sale of a fixed asset at the end of its useful life

Note: Salvage value is used in calculating depreciation.

Learn More about salvage value

Share salvage value

Comments on salvage value

What made you want to look up salvage value? Please tell us where you read or heard it (including the quote, if possible).

WORD OF THE DAY

the setting in which something occurs

Get Word of the Day daily email!

Test Your Vocabulary

Musical Words Quiz

  • gramophone
  • Which word describes a musical performance marked by the absence of instrumental accompaniment?
True or False

Test your knowledge - and maybe learn something along the way.

TAKE THE QUIZ
Word Winder's CrossWinder

Test Your Knowledge - and learn some interesting things along the way.

TAKE THE QUIZ

Love words? Need even more definitions?

Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free!