The 2010 Caulfield Cup has been won by the former New Zealand galloper Descarado.
Two other horses bred in New Zealand - Harris Tweed and Monaco Consul - came in second and third in the world's richest 2400-metre handicap race.
Reigning Melbourne Cup winner Shocking was a clear favourite but Descarado, ridden by Chris Munce, took the lead as the field entered the home straight and was never headed.
Descarado is trained in Sydney by Gai Waterhouse.
The race was run on a heavy track.