Artist is in shock with valuation (9)
I believe the answer is:
appraisal
'valuation' is the definition.
(I've seen this before)
'artist is in shock' is the wordplay.
'artist' becomes 'RA' (Royal Academician, member of Royal Academy of Arts).
'in' means one lot of letters goes inside another.
'shock' becomes 'appal' (synonyms).
'ra'+'is'='rais'
'rais' put inside 'appal' is 'APPRAISAL'.
'with' acts as a link.
(Other definitions for appraisal that I've seen before include "judgement" , "Evaluation - papal airs (anag)" , "judgment" , "rating" , "Formal assessment of an employee's performance" .)