diff --git a/assets/migrations/0025_rename_salvage_value_asset_replacement_cost.py b/assets/migrations/0025_rename_salvage_value_asset_replacement_cost.py
new file mode 100644
index 00000000..540d7577
--- /dev/null
+++ b/assets/migrations/0025_rename_salvage_value_asset_replacement_cost.py
@@ -0,0 +1,18 @@
+# Generated by Django 3.2.12 on 2022-05-26 09:22
+
+from django.db import migrations
+
+
+class Migration(migrations.Migration):
+
+    dependencies = [
+        ('assets', '0024_alter_asset_salvage_value'),
+    ]
+
+    operations = [
+        migrations.RenameField(
+            model_name='asset',
+            old_name='salvage_value',
+            new_name='replacement_cost',
+        ),
+    ]
diff --git a/assets/models.py b/assets/models.py
index 2ee3c724..365fd5d6 100644
--- a/assets/models.py
+++ b/assets/models.py
@@ -105,6 +105,11 @@ def get_available_asset_id(wanted_prefix=""):
     return 9000 if last_asset is None else wanted_prefix + str(last_asset.asset_id_number + 1)
 
 
+def validate_positive(value):
+    if value < 0:
+        raise ValidationError("A price cannot be negative")
+
+
 @reversion.register
 class Asset(models.Model, RevisionMixin):
     parent = models.ForeignKey(to='self', related_name='asset_parent',
@@ -117,8 +122,8 @@ class Asset(models.Model, RevisionMixin):
     purchased_from = models.ForeignKey(to=Supplier, on_delete=models.SET_NULL, blank=True, null=True, related_name="assets")
     date_acquired = models.DateField()
     date_sold = models.DateField(blank=True, null=True)
-    purchase_price = models.DecimalField(blank=True, null=True, decimal_places=2, max_digits=10)
-    salvage_value = models.DecimalField(null=True, decimal_places=2, max_digits=10)
+    purchase_price = models.DecimalField(blank=True, null=True, decimal_places=2, max_digits=10, validators=[validate_positive])
+    replacement_cost = models.DecimalField(null=True, decimal_places=2, max_digits=10, validators=[validate_positive])
     comments = models.TextField(blank=True)
 
     # Audit
@@ -165,12 +170,6 @@ class Asset(models.Model, RevisionMixin):
             errdict["asset_id"] = [
                 "An Asset ID can only consist of letters and numbers, with a final number"]
 
-        if self.purchase_price and self.purchase_price < 0:
-            errdict["purchase_price"] = ["A price cannot be negative"]
-
-        if self.salvage_value and self.salvage_value < 0:
-            errdict["salvage_value"] = ["A price cannot be negative"]
-
         if self.is_cable:
             if not self.length or self.length <= 0:
                 errdict["length"] = ["The length of a cable must be more than 0"]
diff --git a/assets/templates/partials/purchasedetails_form.html b/assets/templates/partials/purchasedetails_form.html
index d55f2ae8..9fa226b9 100644
--- a/assets/templates/partials/purchasedetails_form.html
+++ b/assets/templates/partials/purchasedetails_form.html
@@ -10,7 +10,7 @@
       <label for="{{ form.purchased_from.id_for_label }}">Supplier</label>
       <div class="row">
           <div class="col">
-              <select id="{{ form.purchased_from.id_for_label }}" name="{{ form.purchased_from.name }}" class="form-control selectpicker" data-live-search="true" data-sourceurl="{% url 'api_secure' model='supplier' %}">
+              <select id="{{ form.purchased_from.id_for_label }}" name="{{ form.purchased_from.name }}" class="selectpicker" data-live-search="true" data-sourceurl="{% url 'api_secure' model='supplier' %}">
                 {% if object.purchased_from %}
                 <option value="{{form.purchased_from.value}}" selected="selected" data-update_url="{% url 'supplier_update' form.purchased_from.value %}">{{ object.purchased_from }}</option>
                 {% endif %}
@@ -39,10 +39,10 @@
     </div>
 
     <div class="form-group">
-      <label for="{{ form.salvage_value.id_for_label }}">Salvage Value</label>
+      <label for="{{ form.salvage_value.id_for_label }}">Replacement Cost</label>
       <div class="input-group">
         <div class="input-group-prepend"><span class="input-group-text">£</span></div>
-        {% render_field form.salvage_value|add_class:'form-control' value=object.salvage_value %}
+        {% render_field form.replacement_cost|add_class:'form-control' value=object.replacement_cost %}
       </div>
     </div>
 
@@ -70,8 +70,8 @@
         <dd>{% if object.purchased_from %}<a href="{{object.purchased_from.get_absolute_url}}">{{ object.purchased_from }}</a>{%else%}-{%endif%}</dd>
         <dt>Purchase Price</dt>
         <dd>£{{ object.purchase_price|default_if_none:'-' }}</dd>
-        <dt>Salvage Value</dt>
-        <dd>£{{ object.salvage_value|default_if_none:'-' }}</dd>
+        <dt>Replacement Cost</dt>
+        <dd>£{{ object.replacement_cost|default_if_none:'-' }}</dd>
         <dt>Date Acquired</dt>
         <dd>{{ object.date_acquired|default_if_none:'-' }}</dd>
         {% if object.date_sold %}