Twelve-year-old New Zealand jumper Sea King chased down Spying On You in the final stride of a drama-filled running of the A$350,00 E-Cycle Solutions Grand National Steeplechase (4500m) at Sportsbet-Ballarat on Sunday.
The bid for a fairytale fourth Grand National for the Kathryn Durden-trained Wells was thwarted at just the third of the 16 obstacles when he unseated his hoop Richie Cully.
Crisp Steeplechase winner Excellent Rhythm strung the field out once more as he did at Sandown, but he wasn't able to last out the marathon trip this time around, with the home straight leaving it a race in three - Spying On You, Monarch Chimes and Sea King.
The Grant Young-trained Spying On You, partnered by New Zealand hoop Aaron Kuru, had seen off the Kiwi galloper Monarch Chimes, but the Patrick Payne-trained Sea King - who fell late in last year's race when challenging Wells - had his day on Sunday.
Sunday was Sea King's fourth shot at the National having finished third in 2014, fourth in 2016 before falling last year.
Winning trainer Patrick Payne deflected the credit for Sea King's victory to New Zealand trainer Kevin Myers.
"I can't stick my chest out," Payne said.
"They sent him over fit and well and all I had to do was keep him breathing."
Payne said Sea King had become a stable favourite in the five years he had been coming to Australia.
He added he was a quirky individual.
"He lays in and lays out and he's almost got barred in New Zealand a couple of times," Payne said.
"For a degree of difficulty, he's an unbelievable ride but he (Steve Pateman) makes it look relatively easy."
Sea King has likely run his last race in Australia, where retirement is mandatory for horses beyond 12 years of age. The son of Shinko King has now won more than NZ$1 million in prizemoney with 20 wins and 24 placings from 77 starts.
Pateman said he felt for connections of Wells in their chase for history.
"It was a really thrilling win and I'm sorry what happened with Wells," Pateman said.
"But that could have happened to any of us. That's the game."
Pateman missed a chunk of the 2017 jumps season through injury and said Payne had a plan leading into this year's race.
"I'm so privileged to ride for him," Pateman said.
"People kept thinking I was going to retire but there was no plan to retire, which I think was a flow-on effect from breaking my leg last year.
"Oakbank and Warrnambool were good but June and July were terrible. That's why I'm a bit emotional,” he said.
Jockey Will Gordon who fell from John Monash was taken to Ballarat Hospital for x-rays on a suspected fractured collarbone.