New owner Fred D'Amico collected an instant return on his investment when Deer Valley claimed a narrow but determined win in the Silver Shadow Stakes at Randwick.The 1200m Group Three race, the first leg of the four-race Princess Series, was robbed of some of its glamour when More Joyous was withdrawn on Saturday morning with an elevated temperature.In her absence Melito was sent out the $4.60 favourite and shared the lead with Kiss Me Katy ($6.50).At the business end of the race, Melito kicked

New owner Fred D'Amico collected an instant return on his investment when Deer Valley claimed a narrow but determined win in the Silver Shadow Stakes at Randwick.

The 1200m Group Three race, the first leg of the four-race Princess Series, was robbed of some of its glamour when More Joyous was withdrawn on Saturday morning with an elevated temperature.

In her absence Melito was sent out the $4.60 favourite and shared the lead with Kiss Me Katy ($6.50).

At the business end of the race, Melito kicked clear but Deer Valley ($8) loomed up and the pair went to the line almost locked together.

Deer Valley got the decision by a half-head with Hurtle Myrtle ($16) three-quarters of a length third, just ahead of Kiss Me Katy.

BC3 Thoroughbreds recently sold Deer Valley to D'Amico with Chris Waller retained as trainer.

"She will go through the Princess Series now," Waller said.

"She has taken the next step and it's a great result for her new owner.

"She has found a new level and I think she can go on with it."

Melito's trainer Gerald Ryan was shaking his head with what might have been for the filly whose only win was in the Silver Slipper.

"She's been to the races five times for a win and three seconds," he said.

"It's frustrating but she was beaten by a better and fitter horse on the day."

The next leg of the Princess Series is the Group Two Furious Stakes (1400m) at Randwick in two weeks.