I actually think that's not a bad price for Denman, hasn't lived up to what was expected of him but he gets his share of winners and the odd stakes performer. Funny too because I remember his first 2yo results were outstanding had the Breeders Plate winner and a stack of others winners, then results started to dry up. I think a lot of people bred to him that year on the back of the results so I think he might have some good young horses coming through.
If Sepoy isn't getting 2yo winners then there is no hope for him IMO, at least you can mount a case for SM and Helmets stock to improve with age, Sepoy you would expect them to be jump and run squibs.
If I was a breeder I would be looking at proven performers Testa Rossa and Mossman who are both under 20k and also Star Witness who I reckon has been going along pretty well, fee has been reduced to 16.5k if anything I thought it would have risen gets early runners and they can fetch a decent price at the sales.