By Mathew Toogood

SYDNEY, Aug 27 AAP - David Payne will saddle up the favourite and the "dark horse" in the $1 million Golden Rose in his bid to win a Group One race for the first time since 2003.

Payne, a champion trainer in South Africa, relocated to Australia in 2002 and Unearthly's victory in the 2003 Flight Stakes remains his sole Australian Group One win.

The Rosehill trainer's Golden Rose prospects were boosted when both Masquerader (barrier two) and Praecido (five) drew favourably earlier in the week and he declared the two colts were ready to run up to their best in the season's first major.

Favourite Masquerader had his final gallop on Tuesday morning, working over 1400m on the course proper at Rosehill with three-time Golden Rose winning jockey Hugh Bowman on board.

"He's on track so if he's good enough he'll win," Payne said on Friday.

Masquerader shot to Golden Rose favouritism with his fast-finishing second to Squamosa in the Group Three Run To The Rose (1300m) two weeks ago when lumped with 58kg.

The colt's three career starts have shown Payne he is capable of winning at the highest level.

"He's bombproof, he has the right attitude to be a good horse," he said.

While Masquerader is earning plenty of attention in the Golden Rose lead-up, Payne is also not discounting his other runner Praecido who could prove the knockout horse.

Praecido finished strongly for fifth when resuming in the Run To The Rose.

"It was a very good run from him first-up, he's the dark horse of the race I think," Payne said.

"If you look at his runs in the Champagne Stakes and the Fernhill last preparation, he didn't have a lot of luck."

Gai Waterhouse has the only unbeaten runner in the Golden Rose but a 5kg turnaround between Squamosa and Masquerader has Waterhouse fearing the Payne-trained colt.

Squamosa has won his only three starts and continued to improve as Waterhouse has raised the bar with him.

"He's badly weighted, it's a very hard race for him, he's up a lot in grade, but he's just improving all the time," Waterhouse said.

"Nash (Rawiller) was over the moon the way he felt when he rode him on Thursday. He said `I haven't ridden this colt for a couple of weeks and cannot describe how much stronger and more mature he feels'."

Squamosa will jump from barrier 14 in the 15-horse field but that is the least of Waterhouse's worries.

She said Squamosa's ability to take everything in his stride had seen him reach the Group One race in terrific shape with a genuine chance.

"I didn't know if he'd make the quantum leap (to get to the Golden Rose) but he's made the quantum leap in a huge way," Waterhouse said.

"Can he beat Masquerader who he beat the other day? Masquerader is very well weighted (at the set weights), he's had more experience, they've all had more experience.

"You've got the Golden Slipper winner (Crystal Lily) and the boom horse of Rick Hore-Lacy's (Toorak Toff) but I think my colt is a very serious horse."