Dragon axe

The Dragon axe is the best woodcutting axe available, and can only be used by members. As with all axes, it is both a weapon, requiring 60 Attack to wield, and a Woodcutting tool, requiring 61 Woodcutting to use. It is a rare drop from Dagannoth Rex, Dagannoth Prime, or Dagannoth Supreme, who all inhabit Waterbirth Island.

The dragon axe is more efficient than the rune axe in cutting trees; it is about 15%  faster than a rune axe. It's well worth the money spent to buy it in the long run. When woodcutting, trees can occasionally randomly turn into Ents. If players continually chop at an Ent tree with this axe, the result will be a broken axe (Dragon).

It can be fixed at Bob's Brilliant Axes in Lumbridge for 1800 coins.

Trivia
When it was released, the dragon axe simply was considered a more expensive, red-coloured, Rune axe as it cut logs at the exact same rate (which Jagex actually confirmed in the knowledge base earlier). This was later updated, making the dragon axe the best Woodcutting axe in the game. Now it is popular among p2p players for cutting higher level trees such as magic, yew, maple and willow due to the faster cutting speed.