An eight-year-old gelding on his "zimmer frame tour" once again did his trainer proud with his second Melbourne Cup runner-up finish.

Red Cadeaux was beaten in the tightest Melbourne Cup result in history two years ago and had to settle for second yet again, this time by three quarters of a length to Fiorente.

In Red Cadeaux's third Cup attempt, Dunlop could hardly have been prouder, even if there was some percentage of frustration.

"I'm so proud of my horse," Dunlop said.

"He's old. I call this his zimmer frame tour and he nearly won again, carrying more weight than two years ago.

"I saw Fiorente in the saddling yard and he looked completely different to last year so Gai (Waterhouse) has done a great job with him.

"But we're very proud of today."

Red Cadeaux, a seasoned traveller, will continue his overseas excursions with the Japan Cup likely to be next on the agenda with the Hong Kong Vase next month also in connections' sights.

Red Cadeaux won the Hong Kong Vase last year.

Dunlop even entertained the thought of a fourth trip to Melbourne with Red Cadeaux next year.

"He might do. Let's see how he is," Dunlop said.

"He'll only be nine. We keep breaking all the rules. He was a 50-1 shot until today."

Dunlop was also full of praise for jockey Gerald Mosse who rode Red Cadeaux who jumped from barrier 23.

Mosse won the Cup on Americain in 2010 but drew criticism for a couple of subsequent rides on the stayer in Australia.

"He's one of the best in the world, even at his age, and that was about as good a ride as you can get without winning a Melbourne Cup," Dunlop said.