(v.) To describe a situation, item, or position as better or more desirable than a person with a disinterested standpoint might contend. Often people will use this term either to make an item more attractive for sale or downplay the risks or dangers of a situation or position.
Randy: Hey, check our my '86 Yugo. Slick-shifting four speed, Eastern European engineering, easy to service. All yours for $11,000.