verb (used with object)
to make cheap or cheaper.
to lower in esteem; bring into contempt: Constant swearing cheapened him.
to decrease the quality or beauty of; make inferior or vulgar: She cheapened the dress by adding a fringe to it.
Archaic. to bargain for.
verb (used without object)
to become cheap or cheaper.

1555–65; cheap + -en1; replacing Middle English chepen (> obsolete English cheap (v.)) to price, bargain, Old English cēapian to bargain, trade, buy; cognate with Old Norse kaupa, Gothic kaupōn, German kaufen

cheapener, noun
uncheapened, adjective Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
Cite This Source Link To cheapen
World English Dictionary
cheapen (ˈtʃiːpən)
1.  to make or become lower in reputation, quality, etc; degrade or be degraded
2.  to make or become cheap or cheaper

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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Example sentences
The feature comes in handy for novices, but doesn't seem to cheapen the
  experience for veteran players.
Anonymous sources are necessary for some stories but also cheapen the currency
  when they creep into others casually.
Doctorate degrees based upon whimsical concepts only serve to cheapen their
  overall value.
They can greatly cheapen the bills, but they are incapable of supplying the
  civilized world alone.
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