A Sydney auction house believes Phar Lap's missing 1930 Melbourne Cup has been found, 70 years after the trainer and part-owner of the Australian wonder horse, Harry Telford, was thought to have melted it down to pay his debts.
Car dealer Bob Todd asked Cromwell's to examine the trophy he swapped seven years ago for a brand-new family saloon.
Cromwell's sporting memorabilia expert Tom Thompson is convinced Todd was on to a winner when he handed over the keys, declaring the cup the genuine article, the Age newspaper said.
New Zealand-born Phar Lap won 36 of his last 41 starts in Australia and then went to the US, where in 1932 the giant horse won North America's richest race, the Agua Caliente Handicap, dying just two weeks later.
Cromwell's reckons the genuine article could sell for more than A$1 million (US$760,000).
Phar Lap's body is on show in Melbourne and his heart is in the National Museum in Canberra.
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