Cryptic crossword clue
Art school board accepts first of etchings, subject to evaluation 8

The most common and most likely answer to this crossword clue is the 8 letter word RATEABLE

I've seen this crossword clue in The Times
R
A
T
E
A
B
L
E

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The straight part
We know that "subject to evaluation" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case subject to evaluation = rateable.
The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.
This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.

What does RATEABLE mean?

RATEABLE adjective
  1. Liable to incur the payment of rates

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