Most expensive or most loved (7)
I believe the answer is:
dearest
I believe this clue is a double definition.
'most expensive' is the first definition.
('dear' can be similar in meaning to 'expensive')
'most loved' is the second definition.
('dear' can be similar in meaning to 'loved')
(Other definitions for dearest that I've seen before include "Most expensive or beloved" , "Most precious or expensive" , "The beloved one is most costly" , "Darling" , "most excessive" .)