A watercolour depicting the unveiling of a full-sized model, in imitation granite, of the Scutari Monument in 1856. The Scutari Monument is the obelisk on the left, with an equestrian statue of Richard I in front of it. The royal party witness the unveiling.

The Scutari Monument and Peace Trophy were commissioned to commemorate the end of the Crimean War (1853-56). The Scutari Monument (a 30m/100ft obelisk), in the British cemetery in Istanbul, commemorates the 22,000 British soldiers who lost their lives in the war. The two works, along with the equestrian statue of Richard I seen in this watercolour, were executed by Baron Marochetti. The choice of Marochetti, an Italian, over an English sculptor was viewed largely unfavourably in the contemporary press. Queen Victoria's journal entry relating to the event reveals that whilst she approved of the Scutari monument, describing it as "touching", her opinion of the Peace Trophy was that it looked "unfinished", and resembled "a decoration of a cake".

This watercolour was originally mounted in View Album VII. Queen Victoria and Prince Albert compiled nine View Albums during their marriage. These albums contained watercolours and drawings documenting their life together and were arranged in chronological order. The albums were dismantled in the early twentieth century and rebound in new volumes with additional items, but a written record of their original contents and arrangement still exists.