Historic value
{{For|the accounting term|historical cost}}
Historic value (or historical value) is an increase in value because of historical aging. Original materials and signs of craftmanship are important to historic value,{{cite book |url=https://books.google.com/books?id=YQHuDwAAQBAJ&pg=PA93 |page=93 |title=The Conservation of Medieval Polychrome Wood Sculpture; History, Theory, Practice |author1=Michele D. Marincola |author2=Lucretia Kargère |year=2020 |isbn=9781606066553 |publisher=Getty Conservation Institute}} while later-date changes can diminish it.{{cite book |url=https://books.google.com/books?id=FmVeEFzjaCsC&pg=PA7 |page=7 |title=Refinishing Furniture Made Simple |author=Jeff Jewitt |year=2012 |isbn=9781600853906 |publisher=Taunton Press}}{{Better citation needed|date=August 2022}}
Records and documents
With regard to items like library records or written documents, historical value can mean that the item contains "unique information, regardless of age, which provides understanding of some aspect of the government and promotes the development of an informed and enlightened citizenry."{{cite book |last1=Wiegand |first1=Shirley A. |title=Library Records: A Retention and Confidentiality Guide |date=1994 |publisher=Libraries Unlimited |isbn=978-0-313-28408-3 |page=97 |url=https://books.google.com/books?id=jbql4b0G1JIC&dq="definition+of+historical+value"&pg=PA97 |access-date=2 September 2022 |language=en}}
Real property
The increase in the value of a property, due to its historic value is based on the property's age, quality, and rarity.{{cite book |url=https://books.google.com/books?id=NBgf3n3wStgC&pg=PA215 |title=European Valuation Practice: Theory and Techniques |author1=A. Adair |author2=M.L. Downie |author3=S. McGreal |author4=G. Vos |year=2013 |isbn=9781135821180 |publisher=Taylor & Francis |page=215}} A property's historic value may be due to being associated with a historical activity, event, period, or person,{{cite book |url=https://books.google.com/books?id=0EYtJ2AlIroC&pg=PA61 |page=61 |title=Managing Built Heritage; The Role of Cultural Significance |author1=Derek Worthing |author2=Stephen Bond |year=2008 |isbn=9780470697979 |publisher=Wiley}} or it may have particular historical architectural properties.{{cite book |url=https://books.google.com/books?id=LaQkAAAAMAAJ&pg=PA22 |page=22 |title=Historic Monuments Preservation |author=United States House Oversight Subcommittee on Government Operations |year=1972}}
Art-historic value
In art, historic value is sometimes called art-historic value.{{cite book |url=https://books.google.com/books?id=eAfXuTL5XsgC&pg=PA211 |page=211 |title=Wild Urban Woodlands; New Perspectives for Urban Forestry |author1=Ingo Kowarik |author2=Stefan Körner |year=2005 |isbn=9783540239123 |publisher=Springer}} This is independent of a work's aesthetic value and is based on it being an important part of art history.{{cite book |url=https://www.researchgate.net/publication/223398101 |title=Handbook of the Economics of Art and Culture |chapter=Chapter 6: Value and the Valuation of Art in Economic and Aesthetic Theory |author1=Michael Hutter |author2=Richard Shusterman |volume=1 |year=2006 |publisher=Elsevier |page=199 |doi=10.1016/S1574-0676(06)01006-4|isbn=9780444508706 }}