This is the first photograph of what is believed to be one of Hong Kong's oldest racing trophies, which has lain hidden in a South American vault for more than 100 years. According to the inscription on the hallmarked silver claret ewer - valued for insurance at $10 million - it was presented in 1852, just 10 years after the territory was ceded by China to the British. Details are sketchy, but the wealthy and reclusive Hong Kong philanthropist who now owns the cup hopes international publicity will reveal more information. What is known is that it was won by horse owner Walter Lamonde, a Scottish accountant who worked for the Oriental Banking Company, the first foreign bank in Hong Kong and the mainland. The silver hallmark shows it was made by master silversmiths in Sheffield, England, in 1851. Records show Lamonde lived in Hong Kong between 1848 and 1864, then moved to Peking - now Beijing. During the Boxer Rebellion, the trophy fell into the hands of the Uruguayan ambassador to China in Peking. The year was 1901 and he took it home to Uruguay. It is not clear what the ambassador's intentions were, but he probably took it for safekeeping, said Corporate Communications chief executive Ted Thomas, who is helping publicise the find. 'The Chinese regarded the Uruguayans as neutral so they could take a lot of kit with them without question, unlike the British,' explained Mr Thomas. Its fate from 1901 until it reappeared in a Uruguay vault before auction a few weeks ago is unknown. A Hong Kong silver collector noticed the inscription and bought it. The engraving reads: 'Won by 'Cockspinner' at the Hong Kong Spring Race Meeting, 1852. Owner: W. Lamonde.' Mr Thomas said the new owner preferred to remain anonymous and planned to auction the trophy for charity in Hong Kong at the Lloyd's TSB Offshore offices on November 3. Although the Royal Hong Kong Jockey Club was not founded until 1884, horse races were held at the Wong Nai Chung village track from 1844. A spokesman for the club, since renamed the Hong Kong Jockey Club, said this was the first they had heard of the trophy and they were keen to see it. The club archives had newspaper reports of the first recorded racing trophy, the Governor's Cup, being presented by the colony's first governor, Sir Henry Pottinger, in 1843 for an unnamed race. Records show it was also presented by the colony's second governor, Sir John Davis, from 1844-48, at what seemed to be an annual spring festival. Up until 1858, when a number of other trophies were introduced, this was the only cup mentioned, the spokesman said, adding detailed racing records were not kept until the 1880s. Mr Thomas hoped the trophy - to be named the Banker's Cup, because Lamonde was a banker - would be bought by a bank. He said it was 'an incredible story' of how a valuable and historic sporting trophy travelled from Sheffield to Hong Kong and then onwards to Beijing where it survived the Boxer Rebellion. From there it had made its way to Uruguay in South America, 'where it was rescued a couple of weeks ago by one of Hong Kong's most reclusive philanthropists, to its eventual auction for charity'.