Launceston City Council has received a $100,000 insurance payout after the theft of the Ermenegildo Zegna Perpetual Trophy, a rare artwork featuring a 24-carat gold merino sheep and regarded as one of the most prestigious wool industry trophies in the world.
The trophy was stolen from the Tasmanian Wool Centre in Ross during a smash-and-grab break-in last December. CCTV footage captured a thief wearing a light-coloured hoodie entering the site, smashing a glass display cabinet and taking the trophy. It was the only item stolen.
The trophy had been on long-term loan to the Tasmanian Wool Centre since 2013 from the council-owned Queen Victoria Museum and Art Gallery. Despite the CCTV footage and a $15,000 reward being offered, the trophy has not been recovered.
According to ABC News, Launceston Mayor Matthew Garwood confirmed the council received the insurance payout on March 12 and was not required to pay an excess.
A one-of-a-kind trophy tied to Tasmania’s wool history
The Ermenegildo Zegna Perpetual Trophy was created by Tasmanian artist Stephen Walker and represented the close relationship between premium Tasmanian wool and Italian high fashion.
Its design included a 24-carat gold merino sheep set inside a weaving loom made from silver and platinum, mounted on a serpentine base. The combination of precious metals, local craftsmanship and wool industry history made the trophy an irreplaceable part of the QVMAG collection.
From 1963 to 2008, the trophy was awarded to the best superfine merino fleece at the Midland Agricultural Association Show in Campbell Town. Over that period, it became a symbol of excellence for wool producers and a reminder of Tasmania’s reputation for high-quality superfine merino fleece.
Mayor Garwood said the insurance payment related to the loss of value to the museum collection. He said the trophy was an irreplaceable original artwork donated to QVMAG, making its cultural and historical importance difficult to replace with money alone.
Audit completed after museum theft
The theft has also raised questions about the security of valuable museum objects kept on long-term loan at regional institutions. Council said an audit of other QVMAG items on long-term loan had recently been completed, with no other items considered to be at risk.
However, the mayor acknowledged that no institution can plan for and remove every possible risk. While borrowing institutions are ultimately responsible for the security of loaned objects, the incident has shown how vulnerable rare cultural items can be when displayed outside larger museum settings.
The insurance settlement gives the council a financial outcome, but it does not resolve the loss of a trophy closely connected to Tasmania’s wool identity. The case has also renewed wider discussion about protecting valuable regional assets, similar to concerns surrounding the future of key community infrastructure along Tasmania’s Midland Highway.
For now, the whereabouts of the Ermenegildo Zegna Perpetual Trophy remain unknown, and authorities continue to seek information that could help recover the missing artwork.
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