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From: Webster's Revised Unabridged Dictionary (1913)

 Cheap·en v. t. [imp. & p. p. Cheapened p. pr. & vb. n. Cheapening.]
 1. To ask the price of; to bid, bargain, or chaffer for. [Obsoles.]
    Pretend to cheapen goods, but nothing buy.   --Swift.
 2.  To beat down the price of; to lessen the value of; to depreciate.
    My proffered love has cheapened me.   --Dryden.