Conceit stands for self-importance for a good trait or a noble quality, such as knowledge, wealth, high rank, or righteous deed. The difference between conceit and arrogance is that the previous is to regard oneself highly important without the feeling of being proud, while arrogance is conceit plus feeling of pride. Conceit, however, is a detestable manner implying self-humbleness, narrow-mindedness, and impudence:
"Do not consider yourselves very great.