Fasig-Tipton announced Wednesday it will raise the upset price for all future auctions from $1,000 to $2,500, effective with the upcoming March Digital Sale. The upset price — the minimum bid that can be made for a Thoroughbred at the company’s auctions — has remained unchanged since 2000.
“The $1,000 upset price was instituted 25 years ago, and the time has come for it to be raised in support of our industry’s long-term commitment to Thoroughbred welfare,” said Fasig-Tipton President Boyd Browning. “The value of the dollar has certainly increased over time, and by raising our upset price we are better ensuring responsible horse ownership for years to come.”
The decision reflects the auction house’s focus on promoting responsible ownership practices within the Thoroughbred industry.
Fasig-Tipton has tentatively scheduled 11 live and eight digital auctions for 2025. Following the March Digital Sale, the company will conduct additional digital auctions in April and early May.
The next live event on the calendar is the Midlantic Sale of 2-Year-Olds in Training, scheduled for May 19-20 at the Maryland State Fairgrounds in Timonium.
The upset price adjustment represents the first change to this minimum threshold in a quarter century, addressing both inflation and welfare considerations that have evolved within the industry during that period.
