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Theory:

The magnetic property of material will be lost when it is
 
1. Heated to a high temperature.
 
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Heating a magnet
 
2. Continuously hammered.
 
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Hammering a magnet
 
3. Dropped from a certain height.
 
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Dropping a magnet
 
4. Placing the magnets near an electronic device and improper storage will also affect the magnetic field.
5. When a magnet is kept idle for a long time, i.e., if a magnet is not in use for some time.
6. When passed with a current in a coil that encloses the magnet.