A medal awarded at the first modern Olympic Games smashed auction estimates, selling for about four times its expected price at a Danish auction house on March 1.
The silver medal from the 1896 Athens Olympics was hammered down for $179,920 excluding buyer’s premium at Bruun Rasmussen Arts Auctioneers’ online sale.
The piece had been estimated to fetch between $31,100 to $31,600.
“We are absolutely thrilled about today’s result,” said Christian Grundtvig, head of the coins and stamps department at Bruun Rasmussen.
“The Olympic medal represents a ‘unicorn’ among international collectors – a rare fusion of Olympic and cultural history. This is a piece of memorabilia of such extraordinary calibre that news of the sale has reached audiences worldwide.
“It is, without doubt, one of the most remarkable sales within the field of numismatics in the history of our auction house.”
Engraved by French artist Jules-Clement Chaplain, the medal features Zeus holding a globe topped by Nike, the Greek goddess of victory, brandishing an olive branch.
The reverse shows the Acropolis and Parthenon with a Greek inscription that translates to International Olympic Games – Athens 1896.
The historic 1896 Games featured 241 athletes from 14 countries.
While the auction house stated that Viggo Jensen became Denmark’s first Olympic weightlifting champion, they could not confirm whether the medal was awarded specifically for this achievement.
