Verry Elleegant has won the 2021 Lexus Melbourne Cup (3200m).

The champion mare secured her 10th group 1 victory with a mesmerising performance in the race that stops the nation, handing champion trainer Chris Waller and champion jockey James McDonald their first success in the $7.75m showpiece.

“I just love her to bits – what else can I say,” said an emotional James McDonald post race.

“She just means so much to me this mare. She cruised the whole race, we were always going to be in the finish.”

Finishing a gallant second in the Melbourne Cup was race favourite Incentivise which had to do all the work outside the leader while Spanish Mission finished third.

Fourth was Floating Artist.