rear privateer Share definition Flag n. Derogatory term. Derived from "ass-pirate." Arr, jimlad! Ye be a rear privateer, and I be wantin' none o' that! rear privateer by I'mNotATerroristButIPlayOneOnTV! August 2, 2003 0 0 Get merch Get the rear privateer mug. Buy Now — $32.95 See more merch