The Kings of European breeding, Dubawi (Ire) and Frankel (GB), remain the world's most expensive stallions with their 2025 service fees remaining at 2024 levels; the Darley stalwart and the Juddmonte superstar both commanding a fee of £350,000 (AU$675,700).
Their records are impossible to fault, both horses well and truly earning the title of breed shapers with their records of producing topliners coupled with their outstanding strike rates ensuring that their influence will be felt for generations to come.
Dubawi enjoyed 33 stakes winners in 2024, led by Rebel’s Romance (Ire) who picked up four Group 1 wins during the year in four different nations. Dubawi also sired 2024 dual Group 1 winner Notable Speech (GB), G1 The Oaks winner Ezeliyah (Fr), and Master Of The Seas (Ire). During the year, he added four juvenile stakes winners, while his 3-year-olds and older horses led the charge.
Gallery: Some of the stakes winners that Dubawi (Ire) has sired in 2024
Frankel’s fee also remains unchanged for 2025, and his 2024 included 24 stakes winners led by triple Group 1-winning juvenile filly Lake Victoria (Ire), as well as dual Group 1 winner Measured Time (GB).
Wootton Bassett (GB) has shot up the list in 2025 to become the third most expensive sire in the world. He stood for €200,000 (AU$325,100) in 2024, and will be €300,000 (AU$487,700) in 2025, thanks to a stunning year where he enjoyed five Group 1 winners, with four of those being 2-year-olds, led by G1 Del Mar Breeders' Cup Juvenile Turf Henri Matisse (Ire), as well as G1 Prix Jean-Luc Lagardere winner Camille Pissarro (Ire), G1 Critérium de Saint-Cloud winner Tennessee Stud (Ire) and G1 Critérium International winner Twain (Ire). All up, he had 20 stakes winners across 2024.
Frankel (GB) | Standing at Banstead Manor Stud
Sea The Stars (Ire) comes in at fourth at €250,000 (AU$406,400) for 2025, and his season in 2024 has included 29 stakes winners led by G1 Grand Prix de Paris-winning 3-year-old colt Sosie (Ire). At the same fee, but in USD (AU$384,000), are the trio of Into Mischief (USA), Justify (USA), and Gun Runner (USA).
Comparisons to the Australian breeding scene are interesting. We have three at the top of the list; Zoustar, I Am Invincible and Extreme Choice all at $275,000 (inc GST) with Snitzel next at $247,500 (inc GST).
Top 10 stallions and average fees
Let’s have a look at the top 10 in the jurisdictions discussed and the average fee of elite stallions.
In Great Britain the top 10 stallions stand for an average of $221,000, in Ireland $117,000 and in the United States $299,700.
Written Tycoon's 2024 fee was listed as private, but if we go on his 2023 fee of $165,000, he would make the top 10, and place the average price across the top 10 stallions in Australia at $169,400.
| Dubawi (Ire) | Dalham Hall | England | $ 675,700 | £350,000 |
| Frankel (GB) | Banstead Manor | England | $ 675,700 | £350,000 |
| Wootton Bassett (GB) | Coolmore Stud | Ireland | $ 481,600 | € 300,000 |
| Sea The Stars (Ire) | Gilltown Stud | Ireland | $ 401,400 | € 250,000 |
| Into Mischief (USA) | Spendthrift Farm | America | $ 383,200 | $250,000 |
| Justify (USA) | Coolmore Stud | America | $ 383,200 | $250,000 |
| Gun Runner (USA) | Three Chimneys | America | $ 383,200 | $250,000 |
| Curlin (USA) | Hiil 'N' Dale | America | $ 348,500 | $225,000 |
| Siyouni (Fr) | Haras de Bonneval | France | $ 321,200 | € 200,000 |
| Tapit (USA) | Gainesway America | America | $ 283,500 | $185,000 |
| Lope De Vega (Ire) | Ballylinch Stud | Ireland | $ 281,000 | € 175,000 |
Table: Global top 10 stallions
| GREAT BRITAIN | 221,000 |
| IRELAND | 117,000 |
| USA | 299,700 |
| AUSTRALIA | 169,400 |
Gallery: Average service fee by location
The money spinners – progeny earnings on the track
Comparing prizemoney across various jurisdictions can be fraught with prizemoney so varied in different regions. Using the leading sire tables on Arion to build a list of the top 20 in each region in 2024, then checking each one individually to get their global progeny earnings for the 2024 calendar year in Australian dollars, shows the dominance on Japanese, American, Australian and Hong Kong prizemoney on the world stage.
Leading is American-based sire Into Mischief with AU$51 million in progeny earnings this year, while Zoustar is the leading Australian-bred sire, thanks to his dual hemisphere earnings. Pride Of Dubai makes the top 10, again thanks to being a shuttle stallion who is having a massive year, while Deep Field sneaks into the top 10 thanks to his Hong Kong and Australian earnings.
| Into Mischief (USA) | $ 51,342,914 | 31 |
| Kizuna (Jpn) | $ 44,187,486 | 15 |
| Lord Kanaloa (Jpn) | $ 39,951,435 | 11 |
| Zoustar | $ 37,961,538 | 20 |
| Gun Runner (USA) | $ 32,411,727 | 15 |
| Dubawi (Ire) | $ 32,378,096 | 33 |
| Justify (USA) | $ 30,986,348 | 19 |
| Epiphaneia (Jpn) | $ 30,827,462 | 7 |
| Pride Of Dubai | $ 28,900,763 | 8 |
| Deep Field | $ 27,285,385 | 12 |
| Duramente (Jpn) | $ 27,200,471 | 5 |
| Maurice (Jpn) | $ 27,107,627 | 11 |
| Lope de Vega (IRE) | $ 26,288,213 | 31 |
| Toronado (IRE) | $ 25,545,160 | 7 |
| Heart's Cry (Jpn) | $ 24,794,587 | 7 |
| Frankel (GB) | $ 23,753,031 | 24 |
| Constitution (Usa) | $ 23,646,237 | 15 |
| Drefong (Usa) | $ 23,320,553 | 5 |
| I Am Invincible | $ 23,037,236 | 14 |
| Rulership (Jpn) | $ 22,338,262 | 4 |
| Harbinger (Gb) | $ 21,827,285 | 1 |
| Twirling Candy (Usa) | $ 21,532,033 | 13 |
| Uncle Mo (Usa) | $ 20,774,489 | 15 |
| Sea The Stars (Ire) | $ 20,509,449 | 29 |
| Practical Joke (Usa) | $ 20,096,917 | 15 |
| Goldencents (Usa) | $ 19,936,336 | 6 |
| Curlin (Usa) | $ 19,794,943 | 13 |
| Dark Angel (Ire) | $ 19,187,561 | 16 |
| Munnings (Usa) | $ 19,180,976 | 11 |
| Sinister Minister (Usa) | $ 18,529,273 | 3 |
| Camelot (GB) | $ 18,509,837 | 10 |
| Not This Time (Usa) | $ 18,405,786 | 13 |
| Kingman (GB) | $ 16,402,755 | 18 |
| Siyouni (FR) | $ 16,017,342 | 13 |
| So You Think (Nz) | $ 14,485,605 | 7 |
| Wootton Bassett (GB) | $ 14,028,625 | 20 |
In the ring
Once again Japan dominates the discussion with Epiphaneia (Jpn) leading the world with 12 yearlings sold in 2024 for an average of AU$1.6 million, although Frankel’s Northern Hemisphere yearlings aren’t far behind with an average of AU$1.5 million.
Dubawi also ticks over the seven mark with 14 yearlings sold in 2024 for an average of AU$1.46 million.
Australian-based stallions don’t make the top 15, largely due to our currency rate, with I Am Invincible coming in at 18th in the world with an average of AU$582,000.
| Epiphaneia (JPN) | 12 | 12 | $12,544,207 | $1,045,351 | $1,609,841 |
| Frankel (GB) | 32 | 30 | $29,222,636 | $974,088 | $1,500,096 |
| Dubawi (IRE) | 23 | 14 | $13,274,655 | $948,190 | $1,460,213 |
| Contrail (JPN) | 12 | 12 | $7,672,235 | $639,353 | $984,604 |
| Kitasan Black (JPN) | 24 | 22 | $13,616,822 | $618,946 | $953,177 |
| Harbinger (GB) | 4 | 4 | $2,462,819 | $615,705 | $948,186 |
| Curlin (USA) | 66 | 55 | $32,210,000 | $585,636 | $901,879 |
| Into Mischief (USA) | 82 | 60 | $33,150,000 | $552,500 | $850,850 |
| Gun Runner (USA) | 97 | 82 | $43,131,000 | $525,988 | $810,022 |
| Lord Kanaloa (JPN) | 15 | 14 | $6,283,694 | $448,835 | $691,206 |
| Tapit (USA) | 41 | 33 | $14,587,000 | $442,030 | $680,726 |
| Siyouni (FR) | 41 | 32 | $13,819,859 | $431,871 | $665,081 |
| Wootton Bassett (GB) | 86 | 75 | $30,475,121 | $406,335 | $625,756 |
| Sea The Stars (IRE) | 68 | 65 | $25,764,613 | $396,379 | $610,424 |
| Night of Thunder (IRE) | 67 | 57 | $22,385,150 | $392,722 | $604,792 |
