Melbourne Cup 2014: Precious Gem wins TAB.com.au Trophy

Dedicated Echuca trainer Gwenda Johnstone and her promising mare Precious Gem managed to grab a victory early on Melbourne Cup day by winning the TAB.com.au Trophy.

Craig Williams celebrates his win.

Craig Williams celebrates his win. Photo: Getty Images

But another female trainer Gai Waterhouse made the issue tight when her mare Amanpour finished just a nose behind the country Victoria trained galloper.

The judge took some minutes to split the two, however the Craig Williams-ridden Precious Gem managed to get the result from Tommy Berry's ride Amanpour.

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It's the second time in the race's history that Williams has been successful.

"Gwenda and her family have been close friends of mine since I was an apprentice and I was so pleased to win a race for them on Melbourne Cup day," Williams said.