The most common and most likely answer to this crossword clue is the 10 letter word TOP-DRAWER
I've seen this crossword clue in Independent
T
O
P
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D
R
A
W
E
R
More clues leading to the result TOP-DRAWER
- Leading attraction? The Queen, among the aristocracy
- Pull in heavy drinker of high social standing
- Bring back prize and trophy at highest level
- First-class prize fund to be raised
- Outstanding spinner has trophy, perhaps, to lift
- Kitty turned up with an artist of the highest standing
- Aristocratic designer of blouses?
- Lifted prize, prize of highest quality
- Two pieces of garment are of the highest quality
- Step forward ignoring leaders, can be very good
Buddy explains!

The straight part
We know that "of the highest standing" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case of the highest standing = top-drawer.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 TOP-DRAWER mean?
TOP-DRAWER adjective- Of the highest quality.