The 2.6m high solid bronze artwork, by Palmerston North sculptor Paul Dibble, was lifted by crane and installed on a plinth with a floodlight at the Queenstown Gardens end of Marine Pde last Monday.
Its arrival was acknowledged by Aspiring Arts and Culture Trust chairwoman Janet Malloch, of Wanaka, and trustees Jeri Elliot, of Queenstown, and Sally Middleton, of Wanaka, on Wednesday.
A plaque displaying the title Fern and the artist's name and date of installation will be organised during the trust's next meeting next week.
The sculpture was originally intended for Brian Smith Park, on the corner of Shotover and Brecon Sts, at the council's request in 2007, but the community services committee decided in July last year it was inappropriate after landscaping work at the small reserve.
The sculpture had been in council storage while alternative sites around the district were considered by trustees.
Ms Malloch said Queenstown art dealer and trustee Gary Mahan spotted the sculpture in an Auckland gallery.
"The trust decided it would be fantastic to have a piece of Dibble's art in the district," she said.
"He's probably the most significant sculptor in New Zealand."
Mr Dibble's large bronze sculpture commemorating the relationship between New Zealand and the United Kingdom was unveiled in Hyde Park, London, in 2007.
The Aspiring Arts and Culture Trust meets publicly four times a year and was created by then mayor Warren Cooper in 2000.
It is given an annual budget of $50,000 from QLDC to purchase and commission public artworks for installation throughout the district.
The 2007 budget was not spent and was rolled over to afford Fern, QLDC representative on the trust and arts and events facilitator Jan Maxwell said.
• Art in the open
Art around the Queenstown Lakes District bought by the trust.-
> Gold Mining Workings, by Lower Shotover sculptor Ann Wadworth and Spring Bank General Metalwork, installed on Marshall Park, Arrowtown, in 2003.
> The Four Seasons textiles, by Queenstown artist Sue Wademan, installed inside Queenstown Airport terminal building, in 2003.
> The Hand That Nurtures, by Christchurch sculptor Liew Summers, installed at the Dinosaur Park, in Wanaka, in 2005.
> Waterbirds, by Arrowtown sculptor Mark Hill, installed on an island in Bullock Creek, Wanaka, in 2006.
> Welcome O Visitors From Afar, by Mark Hill, installed outside Queenstown Airport terminal, in 2007.
> Reach, by Christchurch sculptor Graham Bennett, installed on the lakefront, Wanaka, in 2008.