King's picked up spoils (6)
I believe the answer is:
wrecks
'spoils' is the definition.
'king's picked up' is the wordplay.
'king' becomes 'rex' (I've seen this before).
'picked up' indicates a 'sounds like' (homophone) clue.
'rex' sounds like 'WRECKS'.
(Other definitions for wrecks that I've seen before include "Ships destroyed at sea" , "suffers ruin" , "ruins" , "Ships at bottom of ocean" , "Ships on sea bed" .)