What does the cryptic crossword clue "Finish second best (4)" mean?

This cryptic clue uses wordplay to arrive at the answer. Visit the page for progressive hints — definition, wordplay type, and a full step-by-step explanation.

Finish second best (4)

Telegraph #29988 | 6 Across | 2022-05-16 flower

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Also seen in

Times Sunday #5043 (2023-01-22) Guardian Cryptic #24672 (2009-04-13)