From The Enigma
NPL Magazine - April, 2012
LEXMAN (adapted)

His very first auction,
Too frightened to bid,
Amongst all the experts
He feels like a kid.
But then the next item
Comes out on the floor:
An _ _ _ _ _ _ _    _ _ _ _
Like one that his grandmother wore.
So _ _ _ _ _ _ _ _ _ _ his fear,
He leaps from his chair
And raises his paddle
Up into the air.

HINTS:  
#1: The last seven letters of both answers are the same.
#2: The first four letters of the first answer and the first three letters of  the second answer are synonymous words.
#3: The first three letters of the second answer are CON.
#4: The first letter of the last seven letters in both answers is Q.

Answers:

ANTIQUE RING
CONQUERING