That trip and the legacy that followed was yesterday celebrated by about 100 people at Campbell Town's Valentine Park.

Although the name may have changed, Eliza completed her final voyage to the island this week as a bronze sculpture - and she's here to stay.

A $140,000 memorial Eliza and the Ram  now stands tall at the edge of the park, a salute to her groundwork in establishing Tasmania's world-class wool industry.

What made Mrs Furlonge so exceptional was her eye for quality and the lengths at which she went to find it, according to statue organisers.

From 1828 to 1830 she walked across Saxony in search for the best sheep she could buy to bring to Australia.

The Kenilworth property, run by Eliza and John Furlonge, was near Campbell Town and was where the couple established the famed superfine merino wool breed.

The Eliza Furlonge commission was yet another feather in the cap for Victorian sculptor Peter Corlett.

``[The reception] is perfectly amazing, I couldn't be more pleased,'' Corlett said.

``The hardest thing to sculpt was the sheep, doing the wool, I wanted to make it look believable.''

And he did - a point confirmed by the throng of compliments fielded by the event's organisers.

Merino Tribute Steering Committee member Vera Taylor said the group mooted the piece about three years ago and endeavoured to fund it through private means.

``It means that this statue belongs to the people,'' Mrs Taylor said.

``We went to the school [Campbell Town High School] and spoke to the children about its importance it and how it was theirs.''

The sculpture was intended to be unveiled by Italian Ermengildo Zegna Group chairman Paolo Zegna Di Monte Rubello, however Mr Zegna Di Monte Rubello was unable to attend the launch due to the death of his aunt - a major proponent of the Zegna Group.

Northern Midland Mayor Kim Polley was among yesterday's crowd and said it was a proud moment for women in history.

``This is a wonderful thing for Campbell Town to have,'' he said.