Soak for a high price (5)
I believe the answer is:
steep
'soak' is the definition.
(steeping is a kind of soaking)
I cannot understand how the rest of the clue works.
Can you help me to learn more?
(Other definitions for steep that I've seen before include "Soak; expensive (price)" , "Soak thoroughly - precipitous" , "Having a sharp incline" , "Difficult" , "Stiff - thoroughly wet" .)