To undervalue means to assign a lower value or worth than something actually deserves. It can refer to an object, idea, person, or even oneself. In other words, it is to deem as less important, significant, or valuable than the reality of the situation indicates. This term often comes up in discussions about pricing and valuation, where someone may argue that something has been undervalued by a seller or market. It can also refer to a person feeling like they are not valued enough or their contributions are being underestimated.