Crossword Genius

Chiselled wood - it’s in the bag (4,4)

Ross

I believe the answer is:

done deal

I'm a little stuck... Click here to teach me more about this clue!

'chiselled wood it's in the bag' is the definition.
I can't judge whether this defines the answer.

'chiselled wood it's in' is the wordplay.
'chiselled' becomes 'oned' (I am not sure about this - if you are sure you should give a lot more credence to this answer).
'wood' becomes 'deal' (deal is a kind of wood).
'it's in' means one lot of letters goes inside another.
'oned' placed inside 'deal' is 'DONE DEAL'.

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I've seen this clue in the Sydney Morning Herald.
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