Volksraad broke his shoulder in a paddock accident at the Windsor Park Stud, Cambridge on Tuesday.
"He's been such a grand old stallion for us," Steve Till, a Windsor Park executive, said.
"He was four when we bought him at the Tattersalls sale in England in 1993," Till said.
"He was five when he arrived in New Zealand." The son of Green Desert-Celtic Assembly won his only start as a 2yr-old and once from two starts at three.
He was bought by Till, Mapperley Stud, Windsor Park and Irish stud manager Pat Connell.
Connell returned to Ireland and the other partners bought his share, originally standing him at Mapperley and since 1999 at Windsor Park.
Volksraad sired 14 group one winners, the first being Dantelah (Oakleigh Plate) in 1999 and the most recent Distill in the Levin Classic last month.
His gr one winners were successful at distances from 1100m to 3200m.
He is the sire of Sir Slick, winner of 22 races, including three at gr one level and $2,041,177 in stakes.
The progeny of Volksraad have amassed about $30 million in stakes, winning races in 14 countries.
"He has sired 58 stakes winners. When a stallion sires 15 stakes winners they've hit the big time," Till said.
Volksraad was also known for his grumpy nature. He threw several staff members around his paddock, causing broken limbs. "That was really about his dominant personality. He was the boss and he wanted everyone to know it," Till said.
"It certainly wasn't hereditary - his horses are the most laid-back you could imagine."
Volksraad served several mares this season.
He sired winners at Ellerslie and Washdyke yesterday. Kiwi Spirit won at Ellerslie and Outrageous Fortune at Washdyke.
