New cello inlaid with silver artwork (7)
I believe the answer is:
collage
'artwork' is the definition.
(I've seen this before)
'new cello inlaid with silver' is the wordplay.
'new' indicates an anagram.
'inlaid with' indicates putting letters inside.
'silver' becomes 'Ag' (Ag is the chemical symbol for silver).
'cello' anagrammed gives 'colle'.
'colle' enclosing 'ag' is 'COLLAGE'.
(Other definitions for collage that I've seen before include "Paste-up" , "Artwork from sundry stuck-on items" , "Artwork formed from scraps of paper, photos etc" , "Pictures made by sticking together pieces of paper etc." , "Assembled-fragments art" .)