Art exhibition junior goes round for a pound (5)
I believe the answer is:
salon
'art exhibition' is the definition.
(I've seen this in another clue)
'junior goes round for a pound' is the wordplay.
'junior' becomes 'son' (I've seen this in another clue).
'goes round' means one lot of letters goes inside another.
'for a pound' becomes 'al' (I can't justify this - if you can you should give a lot more credence to this answer).
'son' going around 'al' is 'SALON'.
Can you help me to learn more?
(Other definitions for salon that I've seen before include "Elegant room for receiving guests" , "Formal sitting room" , "Parisian art exhibition" , "Elegant room - for hairdresser?" , "Place of business for eg beautician" .)