Melbourne Cup trophy fetches $86k

A piece of racing history has sold for $86,500 as the 1952 Melbourne Cup was auctioned off in Melbourne on Sunday.

The 18 carat gold, three-handled cup, won by Dalray, was sold to John Barnes of the Canning Downs thoroughbred property in Queensland.

Dalray's life after racing was spent at Canning Downs as a successful stallion.