{"id":298689,"date":"2023-12-08T09:25:00","date_gmt":"2023-12-08T09:25:00","guid":{"rendered":"https:\/\/sportslifetale.com\/?p=298689"},"modified":"2023-12-08T09:25:00","modified_gmt":"2023-12-08T09:25:00","slug":"mystery-behind-the-auction-of-600000-diamond-encrusted-trophy","status":"publish","type":"post","link":"https:\/\/sportslifetale.com\/horse-racing\/mystery-behind-the-auction-of-600000-diamond-encrusted-trophy\/","title":{"rendered":"Mystery behind the auction of $600,000 diamond-encrusted trophy"},"content":{"rendered":"<h3>Save articles for later<\/h3>\n<p>Add articles to your saved list and come back to them any time.<\/p>\n<p>As far as sporting memorabilia goes, it doesn\u2019t come much more outlandish than the trophy for winning The Everest.<\/p>\n<p>With over 580 carats of diamonds, seven kilograms of sterling silver and a pair of rubies for the horse\u2019s eyes, Sydney jeweller Nic Cerrone spared no expense when designing the hand-made trophy awarded to connections of the winner of Australia\u2019s richest horse race.<\/p>\n<p>The Everest \u2013 where uber-wealthy businesses, partnerships and individuals fork out $700,000 for the right to choose a horse to contest the race \u2013 is all about excess. And now, in an intriguing development, the 2018 trophy won by Redzel has been put up for sale.<\/p>\n<p>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 <em>Herald<\/em> archive.<\/p>\n<p>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.<\/p>\n<p>The top bid was just $65,000 on Friday morning, but that was expected to climb significantly nearer the deadline.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/static.ffx.io\/images\/$zoom_0.169%2C$multiply_0.7725%2C$ratio_1.5%2C$width_756%2C$x_0%2C$y_497\/t_crop_custom\/q_86%2Cf_auto\/717651d6d8f0401dd582b11ba649851573adaeff\" height=\"390\" width=\"584\"><\/p>\n<p><span>The 2018 Everest trophy won by Redzel.<\/span><cite class=\"ojLwA\"><span>Credit: <\/span>Dominic Lorrimer<\/cite><\/p>\n<p>\u201cUsually people are coy about their bidding until the last minute,\u201d said Lawsons representative Seve Samios. \u201cWe recently did a sale of Nick Moraitis\u2019 [racing] trophies and through that advertising, the owner of [The Everest trophy] came through.\u201d<\/p>\n<p>But who is actually offering the trophy up for sale? That information remains a mystery, with the trophy thought to have been bought privately years ago after discussions between Redzel\u2019s group of syndicated owners.<\/p>\n<p>It\u2019s not the first time an Everest trophy has been embroiled in drama.<\/p>\n<p>Redzel\u2019s first win in 2017 resulted in syndication company Triple Crown being taken to court over allegations the trophy was sold privately without the knowledge or permission of the horse\u2019s owners.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/static.ffx.io\/images\/$zoom_0.113%2C$multiply_0.7725%2C$ratio_1.5%2C$width_756%2C$x_0%2C$y_0\/t_crop_custom\/q_86%2Cf_auto\/aecf85aaaab9ff7751a1135f44c32dfc84b0e3f1\" height=\"390\" width=\"584\"><\/p>\n<p><span>Redzel\u2019s jockey Kerrin McEvoy celebrates his 2018 win.<\/span><cite class=\"ojLwA\"><span>Credit: <\/span>Dominic Lorrimer<\/cite><\/p>\n<p>Triple Crown denied the allegations and any wrongdoing, and claimed they were exonerated by Racing NSW stewards.<\/p>\n<p>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.<\/p>\n<p>The Everest\u2019s rapid growth has stifled Melbourne\u2019s stranglehold on the spring carnival, but the issue of what to do with a jaw-droppingly expensive trophy has proved a troublesome one.<\/p>\n<p>As part of entering a horse for a race, the slot holder and horse\u2019s connections usually sign complex legal agreements which generally decide how the prize money and trophy will be split up.<\/p>\n<p>Yet for at least one, keeping the trophy is maybe more hassle than it\u2019s worth.<\/p>\n<p><b><i>Sports news, results and expert commentary.<\/i><\/b><b><i> Sign up for our Sport newsletter<\/i><\/b><b><i>.<\/i><\/b><\/p>\n<h2>Most Viewed in Sport<\/h2>\n<h3>From our partners<\/h3>\n<p>Source: <a href=\"https:\/\/www.theage.com.au\/sport\/racing\/mystery-behind-the-auction-of-600-000-diamond-encrusted-trophy-20231208-p5eq2p.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Save articles for later Add articles to your saved list and come back to them any time. As far as sporting memorabilia goes, it doesn\u2019t 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\u2019s [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":298688,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Mystery behind the auction of $600,000 diamond-encrusted trophy - Sports Life Tale<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sportslifetale.com\/horse-racing\/mystery-behind-the-auction-of-600000-diamond-encrusted-trophy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mystery behind the auction of $600,000 diamond-encrusted trophy - Sports Life Tale\" \/>\n<meta property=\"og:description\" content=\"Save articles for later Add articles to your saved list and come back to them any time. As far as sporting memorabilia goes, it doesn\u2019t come much more outlandish than the trophy for winning The Everest. 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As far as sporting memorabilia goes, it doesn\u2019t come much more outlandish than the trophy for winning The Everest. 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