The most common and most likely answer to this crossword clue is the 10 letter word INARTISTIC
I've seen this crossword clue in Financial Times
I
N
A
R
T
I
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C
Buddy explains!

The straight part
We know that "lacking elegance" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case lacking elegance = inartistic.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 INARTISTIC mean?
INARTISTIC adjective- Lacking in artistic ability.
- Not done in an artistic style.