Source : Webster's Revised Unabridged Dictionary (1913)

Cheapness \Cheap"ness\, n.
   Lowness in price, considering the usual price, or real value.

Source : WordNet®

cheapness
     n 1: a price below the standard price [syn: {bargain rate}, {cut
          rate}, {cut price}]
     2: tastelessness by virtue of being cheap and vulgar [syn: {tackiness},
         {tat}, {sleaze}]