Regarded as a stable pet, Permit momentarily turned star of Sydney's premier yard when he ended a 20-month losing sequence at Randwick on Saturday.

One of three runners from the Chris Waller stable, Permit was the outsider of the trio, and indeed of the five runners, in the $100,000 Christmas Cup.

But the veteran stayer showed some of the ability which snared him the Group Two Chairman's Handicap in 2012 - his last win before Saturday's drought-breaker.

"He's been a stable pet, he's been with us a while," Waller said.

"He captured everyone's imagination when he won all those races in a row and won the Chairman's. It's been a long time between drinks."

In a race which changed complexion several times, Secessio took up the early running before Martinvast, which initially went back to last after a slow start, whipped around the field and set up a six-length mid-race lead.

That was whittled away near the 600-metres when the field sprinted with Waller admitting he didn't know where to look for the winner.

"They all travelled well and any one of them could have won when they turned for home," Waller said.

"Full credit to Permit, he stuck on well."

Permit ($8) scored by three-quarters of a length over Martinvast ($4.80) who kicked strongly with the winner's stablemate Hoylonny ($4.60) another half length away third.

Waller said the winner and third placegetter were both likely to press on to the Tattersalls Club Cup (2400m) at Randwick on New Year's Day.

The Gerald Ryan-trained Martinvast may also head to that race, although the Perth Cup on the same day remains an option.

"He stuck to his guns well," Ryan said.

"If he hasn't jumped in the air at the start then he wouldn't have had to use that petrol to get to the front."