Arctic Owl proved best of the European challengers but the beer money was won by Brew who stormed to success in the Foster`s Melbourne Cup before a crowd in excess of 120,000 at sunny Flemington today.
James Fanshawe`s charge looked to be going comfortably as the runners left the back straight in Australia`s greatest race.
But he met traffic problems on the final turn and had to settle for fifth place, beaten around four lengths, as Brew completed a quick double after success at the track on Saturday.
It was a sorry tale for the other British and Irish raiders with Far Cry fading badly after a bright start to finish 21st of the 22 runners.
Godolphin`s Lightning Arrow was only four places in front of Martin Pipe`s charge while the John Oxx-trained Enzeli trailed in 15th.
Reflecting on Arctic Owl`s effort, Fanshawe, whose Travelmate had also finished fifth in last year`s running, said: 'He was going nice and smooth down the back straight but was stopped on the bend.
'I`m delighted, he ran a very good race. He just flattened out in the last 100 yards after losing his rhythm round the bend.'
Asked if he would return to try to make it third time lucky in the two-mile event, Fanshawe said: 'Yes, I`d love to come back. You can`t win it if you`re not here.'
Arctic Owl`s jockey David Harrison felt the gelding may have run into at least a place had the scrimmaging not taken place.
'I thought he`d finish in the first three,' he said. 'We had a good position early and they went a nice clip but four or five out one horse came across me and cut me up a bit.
'He stayed on well but flattened out in the last 200.'
'It was just not his day,' Pipe said of Far Cry. The gelding`s jockey new champion Kevin Darley felt his mount missed the kick.
'There was a stall handler messing about near him at the gate and he slipped and missed a stride as we jumped.
'Once they picked up from the seven, we were gone.'
Saeed bin Suroor admitted to being disappointed with Lightning Arrow`s finishing position.
'He simply didn`t stay,' said the trainer. 'You always need luck in this tough race to win.'
But bin Suroor confirmed the Melbourne Cup was still high on the agenda for Godolphin, whose Central Park finished second last year.
'We`ll bring something different again next year,' he said. 'It`s a race we really want to win and we`ll keep trying.'
Jockey Frankie Dettori added: 'We`ll, hopefully, be back with a better one next year.
'Lightning Arrow was sixth all the way and I tried to lay up at the 800 but by the 600 I knew my fate.'
Derby-winning trainer John Oxx admitted his disappointment with the performance of Enzeli.
'It was probably his worst run ever,' he said.
'He didn`t pick up very well in the straight and probably found it a bit firm. It was a disappointing run.'
Enzeli`s jockey Greg Hall felt there may have been something amiss with his mount.
'I`ll be interested to see how the horse pulls out in the morning,' he said. 'He didn`t feel the same horse I rode in track work.'
Brew, 10th in the race last year, gave jockey Kerrin McEvoy victory in his first ride in the race, as his mount - trained in New Zealand by Michael Moroney - got the better of Yippyio.
Moroney also took third place with Second Coming, who passed the post just ahead of favourite Kaapstad Way.
McEvoy said: 'It`s the best feeling ever. To win the Melbourne Cup on my first ride is just unbelievable, it`s unreal.'
'It`s a real dream come true,' added Moroney. 'It was a very good ride, I have always had faith in Kerrin.'
