Valued model in close-up (5)
I believe the answer is:
rated
'valued' is the definition.
(rating is a kind of valuing)
'model in close-up' is the wordplay.
'model' becomes 'T' (Ford Model T car).
'in' is an insertion indicator.
'close' becomes 'dear' (similar in meaning).
'up' shows that the letters should be reversed in order (in down clue: letters go upwards).
't' inserted within 'dear' is 'detar'.
'detar' in reverse letter order is 'RATED'.
(Other definitions for rated that I've seen before include "Castigated" , "Assessed, valued" , "Graded by trade" , "Scolded (archaic); assessed" , "Graded, ranked" .)