Source : Webster's Revised Unabridged Dictionary (1913)

Cheapen \Cheap"en\, v. t. [imp. & p. p. {Cheapened}; p. pr. &
   vb. n. {Cheapening}.] [OE. cheapien, chepen, to trade, buy,
   sell, AS. ce['a]pian; akin to D. koopen to buy, G. kaufen,
   Icel. kaupa, Goth. kaup[=o]n to trade. Cf. {Chap} to
   bargain.]
   1. To ask the price of; to bid, bargain, or chaffer for.
      [Obsoles.]

            Pretend to cheapen goods, but nothing buy. --Swift.

   2. [Cf. {Cheap}, a.] To beat down the price of; to lessen the
      value of; to depreciate. --Pope.

            My proffered love has cheapened me.   --Dryden.

Source : WordNet®

cheapen
     v : lower the grade of something; reduce its worth [syn: {degrade}]