Underprize is a word often used in relation to undervalued objects or services. A synonym for this word is undervalue, which means to assign too low a value to something. This is often done when a product, service or item is not seen as having the same worth as others in the same category, resulting in it being priced lower than it should be. Other synonyms for underprize include depreciate, belittle and downgrade. These words all convey the sentiment that something is not being valued as highly as it should be and often suggest that the underprized item is worth more than it is currently being credited for.