Patrick Payne rated Ihtsahymn's first start for his stable as satisfactory and believes the gelding has improved from it heading into his second-up start at Moonee Valley.

A Group One winner in Perth as a three-year-old, Ihtsahymn steps out on Saturday in the Sweeney Estate Agents Handicap (1500m) for his second start since joining Payne's stable in Victoria.

He finished fourth, beaten just under four lengths by Charmed Harmony who controlled the race from the front and sprinted away in the small field at Flemington over 1400m earlier this month.

"He pulled up really well from his first-up run," Payne said.

"I wouldn't say he's going to run five lengths better but he's heading in the right direction. He might run a length or a length and a half better."

Payne took Ihtsahymn to Moonee Valley for a gallop on Tuesday and and the trainer said the gelding got around the tight circuit without any issues and felt well.

Ihtsahymn, to be ridden by apprentice Jordan Childs, is at $16 with Kenjorwood the $3.50 favourite.

"I'd like to think he could run top four, but that depends on how forward some of the other horses are," Payne said.

Ihtsahymn holds nominations in the Cox Plate and Caulfield Cup but doesn't believe he's up to that and said "third-tier staying races" during the spring carnival would be more realistic options for the gelding.

"He's not good enough for a Caulfield Cup, but there's quite a few lesser options for him," Payne said.

He said the gelding would likely head to a 2000m handicap at his next start which should be suitable and the trainer is open minded about where to head from there.

Seven-year-old stayer Turner Bayou continues his comeback from two years off the scene when he runs second-up over 2040m, while Payne said Snippetee Bee was likely to be scratched from the Dr Sheahan Plate (1200m) because he doesn't think the track will be wet enough for the mare.

He has other options on Sunday at Cranbourne or Sandown next week.