The Woodlawn Vase is an American trophy given annually to the winning owner of the Preakness Stakes at Pimlico Race Course in Baltimore. For many years the trophy was given to the winning owner to keep for one year until the next running of the race. In 1917, the Woodlawn Vase was first awarded to the Preakness winner. In 1953 the winning owner was no longer allowed to keep it. In 1983 the trophy’s silver design was appraised by Tiffany and Company of New York (the original creator in 1860) as priceless but a figure of $1,000,000 was established for insurance purposes. The value is now believed to be worth in excess of $4,000,000.