Elite gathered in rising artist's workshop (7)
I believe the answer is:
atelier
'workshop' is the definition.
(I've seen this before)
'elite gathered in rising artist's' is the wordplay.
'gathered' indicates an anagram.
'in' means one lot of letters goes inside another.
'rising' is a reversal indicator (going up in a down clue).
'artist' becomes 'RA' (Royal Academician, member of Royal Academy of Arts).
'ra' backwards is 'ar'.
'elite' anagrammed gives 'telie'.
'telie' inserted into 'ar' is 'ATELIER'.
(Other definitions for atelier that I've seen before include "Designer's workshop" , "Artist's studio (French)" , "Artist's workroom" , "Artist's workshop, studio" , "I relate to workshop used by artist" .)