Wedged between the Classic Mile and the BMW Hong Kong Derby, the Classic Cup is often considered the weakest link of the four-year-old series but this year's edition is shaping as a true "classic."
On paper the race lacks a proven superstar. The highest-rated horse will be Classic Mile winner My Wish on 95 and the lowest-rated runner in the field, depending on what could be a contentious selection process, will likely be rated in the low 80s.
Cynics might label the race a glorified Class 2 given the ratings of all 14 horses will likely fall within that handicapping band but this is a race of greater depth than that and contains horses that have earned their spot through performances in Hong Kong.
The easing of ratings given to imports with proven overseas form has played a part, allowing horses to win their way into the field. In the past horses with overseas feature race form like Johannes Brahms, Noisy Boy, Cap Ferrat and Mickley were already rated above 80 upon arrival at Sha Tin.
The chance to start their Hong Kong careers on a rating of 80 or under in Class 3 means an opportunity to be more competitive sooner.
It also means that it is possible that the Classic Cup could contain a full field of 14 horses that have earned their place in the field through performances here, not based on a rating earned overseas.
In the past imports were given ratings in the 80s that guaranteed a start in the Classic Series races but were not competitive sooner because they had failed to acclimatize or were simply never going to live up to that rating.
Jockey Club's Head of Racing Product Greg Carpenter and his team deserve credit for what have proven to be judicious assessments of imports but they now face some tough decisions on who makes the 14-horse field for both the Classic Cup and the Derby.
When Carpenter's team selects the order of entry for the Classic Cup, which will be revealed later today, will they simply choose the 14 highest-rated horses? Or could recent form elevate a lower-rated horse into the field?
After Sky Heart won on Sunday and took his rating to 76, well outside that top 14 on ratings, his trainer Caspar Fownes made the case for choosing the 14 horses with best winning chances for the Classic Cup, regardless of rating.
Fownes also has Sky Trust rated 79 and unlucky not to be rated higher and safely in the field given his defeat via protest two Sundays ago.
When the Classic Cup was created it was originally named the Derby Trial and for horses that are not looking like genuine Derby-winning chances it will be that.
Romantic Thor is a perfect example of a horse who might qualify for the Classic Cup on ratings but looks unlikely to win on current form. His rating is now down to 80 from 82 after being unplaced in three of four runs.
Given the depth of the four-year-old crop the Class 2, ratings band 100-75, over 1,800 meters, two weeks before the Derby on March 9 and the Class 3 over 1,800m at Happy Valley on March 12, two days before the Derby field announcement, loom as unofficial "win and you're in" qualifiers for horses that miss the Classic Cup cut.
The competition for spots in the field is a great sign for the future of Hong Kong racing and creates a fascinating dynamic in the countdown to the Derby.
Classic Mile winner My Wish, second left, on 95 will be the highest-rated horse in the Classic Cup. The priority order of entry will be revealed today. SING TAO