The definition of 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."
See consolation prize in Webster's New World College Dictionary
See consolation prize in American Heritage Dictionary 4
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