Great work lost, dream in tatters (3,6)
I believe the answer is:
old master
'great work' is the definition.
(I've seen this before)
'lost dream in tatters' is the wordplay.
'in tatters' indicates an anagram (I've seen this in other clues).
'lost'+'dream'='lostdream'
'lostdream' anagrammed gives 'OLD MASTER'.
(Other definitions for old master that I've seen before include "Great Renaissance painter" , "special picture" , "Do armlets serve for great painter of yore?" , "Costa?" , "Teacher close to retiring" .)