Limestone has spoilt the party for a large Flemington crowd who came to witness the debut of Black Caviar's daughter Oscietra.

Not that Limestone was unfancied in the New Year Plate on Sunday, she was the $4.40 second favourite,but Oscietra was one the public had come to see.

A large throng huddled around Oscietra's stall pre-race and lined the fence as the filly made her way out on to the track.

After leading, Oscietra, who was $2.10 favourite, eventually finished third with Miss Wahoo ($8) filling the quinella spot.

Winning jockey Damian Lane was almost sheepish as he returned to the jockeys' room post victory.

"I feel like the bloke who shot Bambi," Lane said.

Lane has a healthy opinion of Limestone but is unsure whether she's up to the top grade of two-year-olds and a Blue Diamond contender at this stage of her career.

"She a nice filly and very progressive. She's still very green and there's a lot more to come," Lane said.

"As for the Blue Diamond, it all depends on how quickly she progresses.

"Whether she's ready for that sort of pressure I'm not entirely confident but she's a nice filly and definitely going places."

Lane said Oscietra's early speed had helped Limestone who had race experience, finishing third behind quality two-year-old Catchy on debut at Moonee Valley last month.

"It really ran along in the first half of the race," Lane said.

"She gave my filly a beautiful chance to settle and when the time was right she had plenty of petrol left in the tank."

Limestone is raced in the colours of former Racing Victoria chairman David Moodie with the colours also carried to victory in the following race by Flying Light in the Straight Draw Handicap.