John Stockton vs. Steve Kerr - 1997 NBA 3-Point Shootout 

Utah Jazz point guard John Stockton narrowly missed out on a semi-finals appearance in the 1997 NBA 3-Point Shootout, finishing two points behind eventual champion Steve Kerr. Kerr's victory marked his first in four tries. His full performance can be seen here: • Steve Kerr - 1997 NBA ...
For the record, this was not a head-to-head battle. The top four scores of the first round advanced regardless of whether they were outscored by their counterpart or not.