second best

Short definition from Wiktionary

Adjective

1. 1
   Inferior to the best (but better than other alternatives).
2. 2
   Characterized by one or more optimality conditions not being satisfiable.
3. 3
   Alternative spelling of second best.

Noun

1. 1
   Something (or someone) that is inferior to the best (but better than other alternatives).
2. 2
   A situation where one or more optimality conditions cannot be satisfied.