priceless adj.

c. 1200, pris, "non-monetary value, worth; praise," later "recompense, prize, reward," also "sum or amount of money which a seller asks or obtains for goods in market" (mid-13c.), from Old French pris "price, value, wages, reward," also "honor, fame, praise, prize" (Modern French prix), from Late Latin precium, from Latin pretium "reward, prize, value, worth" (from PIE *pret-yo-, suffixed form of *pret-, extended form of root *per- (5) "to traffic in, to sell").

Praise, price, and prize began to diverge in Old French, with praise emerging in Middle English by early 14c. and prize, with the -z- spelling, evident by late 1500s. Having shed the extra Old French and Middle English senses, price again has the ancient sense of the Latin original. To set (or put) a price on someone, "offer a reward for capture" is from 1766.

word-forming element meaning "lacking, cannot be, does not," from Old English -leas, from leas "free (from), devoid (of), false, feigned," from Proto-Germanic *lausaz (cognates: Dutch -loos, German -los "-less," Old Norse lauss "loose, free, vacant, dissolute," Middle Dutch los, German los "loose, free," Gothic laus "empty, vain"), from PIE root *leu- "to loosen, divide, cut apart." Related to loose and lease.

1580s, from worth (n.) + -less. Related: Worthlessly; worthlessness.