The most common and most likely answer to this crossword clue is the 7 letter word DIAMOND
I've seen this crossword clue in The Times
D
I
A
M
O
N
D
More clues leading to the result DIAMOND
- One outdoing clubs in bidding for playing field
- Something very hard that's in a suit
- American playing area is a gem
- Satisfied about a male with acceptable suit component
- Card game done naked finished outside
- Daughter having to clean herself up? Something sparkling!
- A card for Neil’s sixtieth
- I’m working in the outskirts of Driffield, and it’s very hard
- Having to tidy one’s own hotel room up before beginning of day, one sparkles
- Sixtieth one of thirteen?
Buddy explains!

The straight part
We know that "suit component" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case suit component = diamond.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 DIAMOND mean?
DIAMOND noun- A glimmering glass-like mineral that is an allotrope of carbon in which each atom is surrounded by four others in the form of a tetrahedron.
- A gemstone made from this mineral.
- A ring containing a diamond.
- A very pale blue color/colour.
- Something that resembles a diamond.
- A rhombus, especially when oriented so that its longer axis is vertical.
- The polyiamond made up of two triangles.
- The entire field of play used in the game.
- The infield of a baseball field.
- A card of the diamonds suit.
- A size of type, standardised as 4 1/2 point.
- To adorn with or as if with diamonds
- Made of, or containing diamond, a diamond or diamonds.
- Of, relating to, or being a sixtieth anniversary.
- Of, relating to, or being a seventy-fifth anniversary.
- First-rate; excellent.
- The size of type between brilliant and pearl, standardized as 4 1/2-point.