Exquisite English leather tanned (8)
I believe the answer is:
'exquisite' is the definition.
(I've seen this before)
'english leather tanned' is the wordplay.
'english' becomes 'e' (abbreviation).
'tanned' indicates anagramming the letters (letters tanned or beaten into a new form).
'leather' anagrammed gives 'thereal'.
(Other definitions for ethereal that I've seen before include "Celestial; insubstantial" , "Insubstantial, other-worldly" , "Impalpable" , "Delicate and perfect" , "Sublime" .)