An audacious comeback was on the verge of success at the 100m mark of Merchant's first race for almost two years.

Merchant won six times in Singapore in a career that included a second to champion sprinter Rocket Man but had spent 18 months in an Australian paddock after sustaining a tendon injury.

The seven-year-old thrived in the paddock before shedding his status as a retired hack to go back into work for Geelong trainers Jamie Edwards and Bruce Elkington.

TAB fixed odds customers backed Merchant from $26 into $3.60 to win the Geelong Cup Packages 22nd October Handicap (1200m) on Wednesday, leaving many punters to join Edwards and Elkington in willing the veteran to victory.

However, Merchant's condition gave out in the final few strides as Big Buddie collared him late to record his third win in four starts.

Edwards was thrilled rather than disappointed with Merchant's return to racing despite the sprinter going down by a half neck.

"It was a terrific run," Edwards said.

"He went great. There was plenty of improvement left in him and hopefully he pulls up sound and it's onwards and upwards with him."

Edwards said getting Merchant back to winning form was the stable's priority with the trainers to search for races on firm ground for the speedster in the coming weeks.

Meanwhile, the David Hayes-trained Afleet Esprit finished her two-year-old season with a strong win in the GRC Function & Event Centre 2YO Handicap (1200m).

Afleet Esprit eased from $2.40 to start a $3 favourite but the Bel Esprit filly finished well under jockey Nick Hall's guidance to score by three-quarters of a length.

Hayes's representative Tom Dabernig said the trainer would give Afleet Esprit a break before aiming her at three-year-old fillies' races next season.

Top jockey Glen Boss rode his first winner for the month when he guided the Mark Kavanagh-trained filly Irion to a narrow success in the Isuzu Trucks Maiden Plate (1300m).

Irion prevailed narrowly over Leicameares but Boss said the New Zealand-bred three-year-old had the scope to win more races.

"She's a work in progress but she's a nice enough filly," Boss said.

"She's shown us enough on the track to suggest she's a city-class horse but she's got to get there and grow and mature."