Chest perhaps, or ancient bust (9)
I believe the answer is:
container
'chest perhaps' is the definition.
(chest is a kind of container)
'or ancient bust' is the wordplay.
'bust' indicates anagramming the letters.
'or'+'ancient'='orancient'
'orancient' with letters rearranged gives 'CONTAINER'.
(Other definitions for container that I've seen before include "Receptacle" , "storage" , "Vessel" , "tin can, say?" , "Something to hold" .)