Ornament by an inspiring artist displays craft (8)
I believe the answer is:
trimaran
'craft' is the definition.
(trimaran is a kind of craft)
'ornament by an inspiring artist' is the wordplay.
'ornament' becomes 'trim' (trim is a kind of ornament).
'by' means one lot of letters go next to another.
'inspiring' is an insertion indicator.
'artist' becomes 'RA' (Royal Academician, member of Royal Academy of Arts).
'an' placed around 'ra' is 'aran'.
'trim'+'aran'='TRIMARAN'
'displays' is the link.
(Other definitions for trimaran that I've seen before include "Sailing boat with three hulls" , "Three-hulled craft" , "Three-hulled boat" , "Sailing vessel" , "Three-hulled yacht" .)