Be jubilant over new expensive headgear (5)

I believe the answer is:

crown

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This might be a double definition.

'be' is the first definition.
(I know that crown is a more specific form of the action head)

'jubilant over new expensive headgear' is the second definition.
'crown' can be an answer for 'headgear' (crown is a kind of headgear). I am unsure of the 'jubilant over new expensive' bit.

Can you help me to learn more?

(Other definitions for crown that I've seen before include "Diadem" , "'Uneasy lies the head that wears a . . . . .'" , "Highest part; coin" , "Top of the head; coin" , "repair for damaged tooth" .)

I've seen this clue in The Independent.

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