Best part of novel item (5)
I believe the answer is:
elite
'best part' is the definition.
(I've seen this in another clue)
'of novel item' is the wordplay.
'of' indicates a hidden word.
'ELITE' can be found hidden inside 'novel item'.
(Other definitions for elite that I've seen before include "A privileged or superior social group" , "Group enjoying superior status" , "Selected as the best" , "Aristocratic" , "top drawer?" .)