The Hong Kong, China team claimed the Cup with a victory over South Africa in the final after setting the scene by dominating in the first chukka.
The ball was thrown in by Eduardo Huergo, president of the Federation of International Polo, and then Terrera and Inchauspe opened the scoring.
Tom de Bruin gained some ground for South Africa with a goal in the second only to be eclipsed by Terrera and Inchauspe before the chukka was over.
A goal from a penalty from de Bruin brought the score to 5:2 only for Terrera to take another bringing the score line to 6:2 at half-time.
South Africa made a brave effort at saving face and changed strategies from defensive to attacking in the second half but it was Terrera again who made a dramatic penalty save in the third chukka to keep them at bay.
The South Africans put the home side under severe pressure in the fourth chukka scoring two goals but the Hong Kong, China team continued to defend keenly and putting in yet another goal holding them to a 7:4 win.
The third and fourth place playoff between England and Argentina saw a close fought match with England having the edge and holding the Argentines to 8:7.
A glittering closing ceremony included a performance by the Buenos Aires Opera.