The Victoria Tower is archaeologically significant as the wreck of an international inward-bound passenger and cargo vessel. It is educationally and recreationally significant as a coherently intact example of a British built iron clipper ie: representative of a class or type. Along with the wrecks of the Light of the Age (1868 - American-built wooden clipper ship) and Sussex (1871 - Blackwall frigate) nearby these vessels represent the three major design classes, and span the evolution of commercial and immigrant sailing ships used by the British in the colonial Australian trade in the last half of the nineteenth century.