The Depreciation Guild was an American shoegaze band from Brooklyn, New York. The group was formed in 2005 by Kurt Feldman and Adrian Hashizume. Before disbanding, their lineup included Kurt Feldman and Christoph Hochheim (who later became the drummer and touring guitarist, respectively, for indie pop band The Pains of Being Pure at Heart), joined for live performances by Anton Hochheim on percussion and Raphael Radna on bass guitar.

Their debut, digital-only EP Nautilus was released by chiptune label 8bitpeoples in 2006, and their debut album In Her Gentle Jaws followed as a self-released free download in 2007. Kanine Records picked the band up in 2009 and reissued their debut album with some remastering. A sophomore full-length, Spirit Youth, followed in mid-2010. The band also did remixes for artists such as Oh No Ono and Chateleine. Their song "Dream About Me" was featured in the 2010 film Kaboom.