The figure is usually arrived at my determining the maximum stud fee would supply a full book and then doing a series of calculations. I'm not exactly what they are but it would have to involve depreciation, anticipated years at stud etc. It is based not nessessarily on how many races he won, but what the breeeding market will bear, considering his race record, pedigree etc.
Two stallions with identical race records could have very different fees because of their own pedigrees. Obviously once a stallion has foals on the ground, his can can change immensely, usually for the worse (Point Give) but somethimes for the better(Distorted Humor).
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RIP Monroe.
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