Melbourne Cup sold

Press, 31 October 1977, Page 22

Melbourne Cup sold

NZPA Sydney A Sydney man captured the first Melbourne Cup for $lO,BOO after out-bidding a large field of contenders for the historic sporting relic. The silver trophy — the first cup, presented in 1865 — was among 413 lots of Australians auctioned off in the Double Bay premises of London auctioneers, Christies. The bidding jumped well with an opening offer of $lOOO and rose quickly to $BOOO, then began to trail off at $lO,OOO. In the last seconds of the auction, the winning bidder stole a break with his offer of $lO,BOO and proved too good to beat. The buyer, who prefers to be anonymous, said that he "considers the cup a bargain at the price.” He described himself as a “private collec-

tor with some connection with racing.” He plans to enjoy the beautifully-engraved cup in his home for a while, but said: “I may decide later to make the cup available for public viewing.” The parcel gilt cup stands 508 mm high and weighs 256 gm. It is decorated by engraved laurels and festoons of flowers and surmounted by an equestrian figure. The cup was auctioned on behalf of its owner who lives in France and felt that Australia would appreciate its return. -Research indicates that the cup was first presented to the winner of the 1865 Melbourne Classic, Toryboy. The first “Melbourne Cup” was run in 1861 but the 1865 contest was the first for which a cup was presented.