salvage value

noun

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.

Dictionary Entries Near salvage value

Cite this Entry

“Salvage value.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/salvage%20value. Accessed 19 Apr. 2024.

Love words? Need even more definitions?

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