The Inverlochy is historically significant as the wreck of a international commercial steel sailing barque with evidence of an inward bound cargo. It is educationally and recreationally significant as a dive site with remains of the hull and cargo discernible. It is useful to compare the wreck of the steel Inverlochy with that of the Victoria Tower built of iron (and wrecked over 40 years earlier) to gauge the lasting qualities of iron versus steel hull plating.