What is the meaning of Prize?

That which is taken from another; something captured; a thing seized by force, stratagem, or superior power.

Anything captured by a belligerent using the rights of war; especially, property captured at sea in virtue of the rights of war, as a vessel.

An honour or reward striven for in a competitive contest; anything offered to be competed for, or as an inducement to, or reward of, effort.

That which may be won by chance, as in a lottery.

Anything worth striving for; a valuable possession held or in prospect.

A contest for a reward; competition.

A lever; a pry; also, the hold of a lever.

To consider highly valuable; to esteem.

To set or estimate the value of; to appraise; to price; to rate.

To move with a lever; to force up or open; to prise or pry.

To compete in a prizefight.

Having won a prize; award-winning.

First-rate; exceptional.

Obsolete form of price.

Source: wiktionary.org