Cryptic crossword clue
Pricey French article to engrave for obstacle race 12

The most common and most likely answer to this crossword clue is the 12 letter word STEEPLECHASE

I've seen this crossword clue in Financial Times
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Buddy explains!

The straight part
We know that "obstacle race" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case obstacle race = steeplechase.
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 STEEPLECHASE mean?

STEEPLECHASE noun
  1. A horse race, either across open country, or over an obstacle course
  2. An athletics event in which the runners have to run 3000 metres round a track, jumping hurdles and a water obstacle along the way
STEEPLECHASE verb
  1. To take part in a steeplechase event.

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