ADJECTIVE (1)

1. next to the best;
- Example: "his second-best bed"


ADVERB (1)

1. in second place;
- Example: "he came off second-best"

WordNet (r) 3.0 (2006):

second-best
    adv 1: in second place; "he came off second-best"
    adj 1: next to the best; "his second-best bed"