The lives lost in the sinking of the "Grosser Kurfürst" are commemorated by a large stone obelisk erected at Cheriton Road Cemetery, in Folkestone. The Germans repeatedly considered projects to salvage the wreck until 1903. In 2020, it was announced by Historic England that the memorial would be listed as a Grade II listed building, and the wreck itself would be scheduled under the Ancient Monuments and Archaeological Areas Act 1979, allowing recreational diving under license but prohibiting salvage or removal of artifacts.