A slot in The Everest is up for auction with GPI Racing to offload the one it bought for Chautauqua.

Auctioneer Inglis will manage the sale with those interested to submit expressions of interest over the next nine weeks.

The successful bidder will act as 'Slot Licensee' (as referred to in the conditions of the race) from the date of completion of sale through to the date of payment of prize money for the 2019 Everest.

Greg Ingham's GPI Racing was an original slot holder and like the others, paid for three years.

But with Chautauqua now retired, Ingham said the group had decided to make the slot available for this year with the 2019 edition worth $14 million.

"When we purchased our slot in The Everest, it was with a view to our champion Chautauqua competing in the race year after year,'' Ingham said.

"He is essentially retired therefore we have decided to make the opportunity to be part of this great race available to someone else.

"It is already an incredible sporting spectacle and we have loved being a part of it in its first two years and there is no doubting that the third renewal is going to be even bigger and better again."

Chautauqua finished fourth n 2017 but did not run last year.

Racing NSW chief executive Peter V'Landys said he believed there would be "intense interest''.

"It was always envisaged that the slots in The Everest would be tradeable,'' he said.

"Accordingly, we are happy that this part of the concept is being utilised as this adds even further intrigue to the race.

"With prize money of $14 million, it's potentially very good value for an owner of a horse that may be otherwise a fringe contender to get a start in the race."