The breeders of Melbourne Cup winner Prince Of Penzance have been presented with a special trophy at the Karaka Million meeting at Ellerslie in Auckland.

The Victoria Racing Club handed over the miniature three-handled trophy to John Thompson of Rich Hill Stud on Sunday with winning ride Michelle Payne on hand for the presentation.

"The VRC is particularly pleased that we were able to make this presentation at Ellerslie to the breeders who have been significantly involved in New Zealand racing for many years," VRC chief executive Simon Love said.

Thompson was delighted to accept the trophy on behalf of the breeders, a day before Rich Hill offers a brother to the Cup winner at the NZ Premier yearling sale.

"Alan Galbraith and I bred Prince of Penzance in conjunction with Jungle Pocket Pty Ltd (Japan) and it is such a big thrill to have achieved such success with the Yoshida family in Japan," Thompson said.

"They have kindly allowed us to accept and keep this trophy."

The Melbourne Cup Breeders' Trophy was introduced in 2005 following Makybe Diva's third Melbourne Cup win.