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As far as sporting memorabilia goes, it doesn’t come much more outlandish than the trophy for winning The Everest.
With over 580 carats of diamonds, seven kilograms of sterling silver and a pair of rubies for the horse’s eyes, Sydney jeweller Nic Cerrone spared no expense when designing the hand-made trophy awarded to connections of the winner of Australia’s richest horse race.
The Everest – where uber-wealthy businesses, partnerships and individuals fork out $700,000 for the right to choose a horse to contest the race – is all about excess. And now, in an intriguing development, the 2018 trophy won by Redzel has been put up for sale.
In a promotion for an online auction this week, the trophy is advertised as being worth up to $600,000. Luxury auction house Lawsons is running the sale. The firm offers a range of valuable items from contemporary art, fine wine and even photographs from the Herald archive.
But never has it had an item like this before. It is expecting a flurry of activity on the weekend before bidding on the trophy closes at 6pm on Sunday.
The top bid was just $65,000 on Friday morning, but that was expected to climb significantly nearer the deadline.
The 2018 Everest trophy won by Redzel.Credit: Dominic Lorrimer
“Usually people are coy about their bidding until the last minute,” said Lawsons representative Seve Samios. “We recently did a sale of Nick Moraitis’ [racing] trophies and through that advertising, the owner of [The Everest trophy] came through.”
But who is actually offering the trophy up for sale? That information remains a mystery, with the trophy thought to have been bought privately years ago after discussions between Redzel’s group of syndicated owners.
It’s not the first time an Everest trophy has been embroiled in drama.
Redzel’s first win in 2017 resulted in syndication company Triple Crown being taken to court over allegations the trophy was sold privately without the knowledge or permission of the horse’s owners.
Redzel’s jockey Kerrin McEvoy celebrates his 2018 win.Credit: Dominic Lorrimer
Triple Crown denied the allegations and any wrongdoing, and claimed they were exonerated by Racing NSW stewards.
According to sources familiar with the case not authorised to speak publicly about the matter, the legal action was eventually resolved via settlement between the parties.
The Everest’s rapid growth has stifled Melbourne’s stranglehold on the spring carnival, but the issue of what to do with a jaw-droppingly expensive trophy has proved a troublesome one.
As part of entering a horse for a race, the slot holder and horse’s connections usually sign complex legal agreements which generally decide how the prize money and trophy will be split up.
Yet for at least one, keeping the trophy is maybe more hassle than it’s worth.
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