Crossword Genius

Note new picture is less expensive (3-5)

Ross

I believe the answer is:

cut-price

'less expensive' is the definition.
(cut-price means cheap or marked down)

'note new picture' is the wordplay.
'note' becomes 'c' (musical note).
'new' indicates anagramming the letters.
'picture' with letters rearranged gives 'utprice'.
'c'+'utprice'='CUT-PRICE'

'is' is the link.

(Other definitions for cut-price that I've seen before include "At a much reduced rate" , "At reduced cost" .)

I've seen this clue in The Times.
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