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consolation prize

Consolation prize is something given to a person who does not win first place. (noun)

1. An example of a consolation prize is a certificate of participation given to all who entered a race. 2. An example of a consolation prize is a girl who refuses a date to the prom because she knows that she was only asked because the boy's first choice said no. She might say "I'm not your consolation prize."

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See consolation prize in Webster's New World College Dictionary

See consolation prize in American Heritage Dictionary 4

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