prize1
  
  n.
  - a thing given as a reward to a winner or in recognition of an outstanding achievement. 
▸something won in a game of chance.
 ▸something of great value that is worth struggling to achieve.
 - chiefly historical an enemy ship captured during warfare.
 
adj.
  - having been or likely to be awarded a prize.
 - outstanding of its kind.
 
v.
 value highly.
 
  Etymology
  ME: sense 1 of n. is var. of price, sense 2 is from OFr. prise ‘taking, booty’; v. is from OFr. pris-, stem of preisier (see praise).