Diminished value

Diminished value, Diminution in Value, or commonly referred to as "DV" are the terms generally used to describe the economic loss in a property's value as a result of having been damaged. Diminished Value (DV) is often associated with vehicles that have been damaged, however, it is applicable to other property of value including collectibles such as jewelry, artwork, etc. For the purposes herein, reference will involve the loss in value of a damaged automobile where the term is often applied.