The Collaborative International Dictionary of English v.0.48:

Valuation \Val`u*a"tion\, n.
   1. The act of valuing, or of estimating value or worth; the
      act of setting a price; estimation; appraisement; as, a
      valuation of lands for the purpose of taxation.
      [1913 Webster]

   2. Value set upon a thing; estimated value or worth; as, the
      goods sold for more than their valuation.
      [1913 Webster]

            Since of your lives you set
            So slight a valuation.                --Shak.
      [1913 Webster]

WordNet (r) 3.0 (2006):

valuation
    n 1: an appraisal of the value of something; "he set a high
         valuation on friendship" [syn: evaluation, valuation,
         rating]
    2: assessed price; "the valuation of this property is much too
       high"