UPDATED: 1.20PM

The greatest racehorse trainer in the Southern Hemisphere has died.

Bart Cummings has died at the age of 87 in north western Sydney.  He'd just celebrated his 61st wedding anniversary with his wife Valmae on Friday.

Anthony Cummings said his father died in the early hours of this morning, peacefully in his sleep surrounded by his family.  

Bart Cummings won 12 Melbourne Cups with 11 horses.  Horse Think Big won 1974 and 1975.  In five of those races, he trained the second-placed horse as well.

Memories, stories and accolades of Cummings are already flooding in.  Sky News presenter Tim Webster has recalled one of his favourite Bart Cummings stories. 

"I remember a great on-liner when the health inspector visited the stables," he said.  

The health inspector told Cummings he had too many flies in the stables and Mr Webster said Cummings responded with:  "Really, how many am I supposed to have?"

Sky's Paul Gregg also weighed in saying Cummings was born into racing.  

"He was allergic to horses and hay.  He was told as a teenager to stay away from horses and hay if he wanted to get over his allergy."

Race caller Greg Miles described Cummings as unique man saying "racing's just lost an incredible man"   

"What he meant to horse racing in Australia - he was just everything," explained Mr Miles. 

Kiwis are also coming forward to pay their respects.  Waikato trainer Graeme Rogerson knew Cummings well, and said he was great to do business with.

"I sold him lots of horses - he was a great bloke and a great fan of New Zealand bred horses," said Mr Rogerson.