While horse and owner were both under wraps on Thursday, the exact value of only one could be revealed.

All Too Hard, the colt that ended the eight-win streak of Pierro, was declared too valuable to unveil at a media conference ahead of his bid for the Cox Plate on Saturday.

He is valued at $20 million, according to co-trainer Wayne Hawkes, who refused to lead the horse out for the waiting photographers.

Equally camera-shy is owner Nathan Tinkler, the one-time rich list pacesetter who has been holed up in Singapore watching his depleting coffers.

His net worth is undetermined.

But Hawkes said it was not out of the question that the former mining magnate might make a surprise appearance to watch All Too Hard try to win the Caulfield Guineas-Cox Plate double at Moonee Valley.

"He said he was going to come but I think he's still in Singapore," Hawkes said.

"Nathan spoke to me on the Tuesday after the Caulfield Guineas and basically I haven't had any contact since.

"I texted him on Tuesday morning but I don't know where he is."

It's far more likely that Tinkler will remain in his exclusive Singapore enclave - which lets Hawkes and his father and co-trainer John get on with preparing All Too Hard their way.

"He's been the Group One owner and he's let John Hawkes do what he wants to do," Wayne Hawkes said.

"That makes things a hell of a lot easier when you haven't got any emotions or anything like that involved."

Trying to explain why his colt would not be making an appearance on Thursday, Hawkes said he had now become a lot more valuable than his half-sister Black Caviar.

"In all fairness, the horse is worth $20 million - and he's not a toy," he said.

"Black Caviar's not worth as much as All Too Hard.

"She could have one foal and he could have 200 foals - do the math."

Hawkes said All Too Hard was "in his own routine, doing his own thing".

"If something happened to him and he was out here I'd never forgive myself and I'm sure the owners wouldn't either," he said.