The fashion set broke the rules at the race that’s had everyone talking this week, with the dress code abandoned in favour of bright colours and bold prints.

More than 40,500 racegoers defied the rain to attend the Everest at Royal Randwick on Saturday and see Redzel win the $13 million race for a second time.

The Everest’s blue and white dress code was ignored by most, including the headline act of the day, former One Direction member Liam Payne.

The singer raised eyebrows when he posed for photos wearing a khaki green short-sleeve shirt, black jeans and skater shoes. He did not take questions.

Jennifer Hawkins, attending as a guest of The Star casino, played by the rules in a long-sleeve white mini dress designed by longtime collaborator Lillian Khallouf.

The dress was inspired by the jockey silks of Shoals, which picked up The Star slot.

“The dress has got really structured lines, and we’ve incorporated that into the corsetry and panelling through the skirt,” Khallouf told AAP.

“It’s definitely sexier than the jockey’s silks with the corset around the waist,” Hawkins added.

It was Hawkins’ first time attending the race day, but she said there was a lot of excitement about.

“It’s the same hype (as Flemington) for sure, I’ve seen marketing banners, helicopters up in the air,” she said.

And the controversial light show projected onto the Opera House?

“Yeah that too, and I just feel like it’s such a huge race there’s a lot of hype around it.”

Singer Erin Holland, donned the most expensive accessory of the day – a $1 million custom-made diamond headpiece that required it’s own bodyguard.

“It is very Beyonce of me, I feel like a movie star – singing and having a bouncer following me around,” Holland said.

“I know I’m supposed to wear a touch of white or blue and I’m wearing pink, but I’m loving the fact everyone’s embracing colour,” she said of her electric pink, long-sleeve Zhivago dress.

Roshali Kaul, womenswear buyer at luxury retailer Harrolds, said the colour theme paled in comparison to the season’s latest trends.

“I think the biggest trend we’ve seen and we’ll continue to see at race days this year will be the ‘extra’ trend,” Kaul said.

“More is more – lots of colour, lots of prints. I don’t think you should shy away from being crazy because this is the best time to do it!”

It was Crystal Kimber’s rainbow sequin skirt and $30 shoes that helped her win the Harrolds Fashion Chute competition.

“I started with the skirt, which I just adore, and went from there – bought the top second hand from eBay because it had sold out and my wonderful friend found me the bag,” Kimber told AAP.

Kimber won a flight to Europe, a styling session and cash among other prizes.

Away from the shelter, the most coveted accessories was the humble umbrella, with rain falling for most of the day.

Organisers were pleased with attendance, following controversy earlier in the week when NSW Premier Gladys Berejiklian approved projections of the Everest barrier draw on the Opera House sails despite public backlash.