For the stallions whose oldest progeny have just turned four, judgement is swift and often unforgiving, which is why the following table from stallions.com.au is an eye opener.

Yes, that's Sepoy in front of his third season rivals holding a margin over Smart Missile, Foxwedge and So You Think, that trio having dominated this division previously.

By the start of this year, Sepoy had become the cold horse… arctic in fact, having covered just 75 mares last spring even with a 50% fee reduction and his progeny in the sale ring were also on the slide with 46 averaging $56,913.
Now here we are, nearly at the end of 2017, and Sepoy is out there making the case for why he is actually good value at $16,500 this year, so if you have a mare in foal to him, good luck to you!
His 36.8% winners to runners seasonal strike rate is better than his peers and while knockers will say, 'He has one horse', he has actually had 28 winners and it is surely better to have the big horse, than no horse.
Sepoy has always had quite good success in the Northern Hemisphere where he has five stakes-winners and it may well be that by the end of this season that success will have spread south.