Mr Stewart offered $50,000 in prize money to anyone who could beat his father’s 13.7 second, 300mm record at the event.

Two woodchoppers managed to beat Clayton Stewart’s time yesterday, but there was only one prize, and Gippsland’s Glen Gillam walked away with the money and a new world record of 12.12 seconds.

Mr Stewart said he expected the new record would also stand the test of time.

‘‘It’s perhaps a pity that my father’s record was broken but it was really good for the sport,’’ he said.

‘‘They were ecstatic, and I think they had both trained for it because obviously it was a sizeable purse, they trained very hard.

‘‘They were really outstanding, it was an outstanding feat, so they deserve the money.

‘‘It was just about as near to perfect as you’ll ever get.’’

Mr Stewart had said if the record was not beaten yesterday he would apply to have it recognised with ‘‘legend’’ status in the Australian Axeman’s Hall of Fame.

Clayton Stewart died on Australia Day in 2004.