The eight-year-old gelding staved off a brave challenge from the Darren Weir-trained Kiwia to win the $300,000 Cup in record time.

Qewy is guaranteed a start in next Tuesday’s $6-million Melbourne Cup, but Appleby has always said he would wait until after the horse’s run at Bendigo to make a decision.

Appleby’s travelling foreman Chris Connett gave little indication after the race as to which way the English trainer might lean.

"That's the decision we've got to make now, I'll speak to Charlie and we'll make sure he pulls up fine," he said.

The win was Appleby and Godolphin’s second straight success in the Bendigo Cup, following the win of Francis Of Assisi in 2016.

It also delivered consecutive Bendigo Cup wins to dual Melbourne Cup winning jockey Kerrin McEvoy.

Qewy ($2.60) had to survive a dogged challenge from the Weir-trained four-year-old.

The pair engaged in an epic battle from the 300m mark, with .2 of a length the final margin.

The Lloyd Williams-owned Foundry was four-and-a-half lengths away in third, ahead of the outsider of the small seven horse field Skulduggery.

Qewy, who won last year’s Geelong Cup before he finished fourth in the Melbourne Cup, continued an amazing run of cups success for Appleby in Australia.

The stable recently claimed the $300,000 Cranbourne Cup with Folkswood, and also won last year’s Bendigo and Sandown cups.

“It's great to be back at Bendigo, especially after last year, and for Qewy to come out and win like he did is great," Connett said.

"There were a couple of moments where we had our heart in our mouth but he stays all day and he shows his heart and he ran right through the line.

"He was made to battle but the second horse is a nice, progressive horse."

The decision for Appeby may have been made easier after Racing Victoria announced Qewy would not be-handicapped for next Tuesday’s race that stops a nation.

The eight-year-old stayer has moved to 21st in the ballot and will remain on 53kg.

McEvoy said Appleby faced a tough decision as trainer, but was confident Qewy was at least a “top-10” Melbourne Cup horse.

Weir expressed no disappointment with the effort of Kiwia, who started the race as $2.40 favourite, and is part-owned by Bendigo businessman Gerry Ryan.

The master trainer indicated the recent Group 3 Coongy Cup winner would now be set for a tilt at the Queen Elizabeth Stakes (2600m) at Flemington on Saturday week.

Meanwhile, Bendigo Jockey Club CEO Aaron Hearps said while the cup may have only attracted a small field, no one had been let down  by the finish.

“The best two horses fought it out right down to the wire,” he said.

“I said to Kerrin McEvoy, had it been any other horse other than Qewy, Kiwia goes straight past him.

“But these European stayers really dig in for the fight and he just outstayed him in the end.

“That’s two in a row to the internationals and we’re happy for Godolphin to keep sending them.”