Gai Waterhouse's new stable recruit Cafe Society has finished third in the Listed Wolferton Handicap at Royal Ascot.

Waterhouse bought the horse on Monday and is eyeing a tilt at the 2015 Melbourne Cup with Cafe Society.

The winner of two races over 2400 metres, Cafe Society finished behind the Ed Dunlop-trained Contributor and the Queen's horse Bold Sniper in the 2000m race.

"I think he's a really exciting horse and that was a very solid run," Waterhouse said.

"We'll keep him ticking over until the first lot of horses leave England for quarantine and then I'll bring him down and assess him and start to make a plan.

"Hopefully he might be a Melbourne Cup horse in a year's time."

It was the second time at the meeting that the Queen had to head to the runner-up's stall after Estimate was beaten by Leading Light in the Gold Cup.

Contributor is owned by George Bolton, who was involved with American superstar Curlin.

"This is the highlight of my racing career," Bolton said.

"To come over to Royal Ascot and win a race is very exciting.

"We've had some nice horses (in America), but not in 20-horse fields turning for home!"