- The worth of a property that has been damaged or impaired in some way
- The actual or projected worth collected from the sale of an asset after it has reached the end of its useful duration
- The insurance company determined the salvage value of the wrecked car to be $2000.
- The company considers the salvage value of their machinery when calculating depreciation.
- In real estate, a property's salvage value often refers to the value of its components if they were sold individually.