Expensive Dutch audio equipment (4)
I believe the answer is:
dear
'expensive' is the definition.
(similar in meaning)
'dutch audio equipment' is the wordplay.
'dutch' becomes 'd' (common abbreviation).
'audio equipment' becomes 'ear'.
'd'+'ear'='DEAR'
(Other definitions for dear that I've seen before include "Costly (but loved!)" , "letter opener" , "Beloved - expensive" , "Needing plenty of bread" , "Expensive - address" .)