A medal awarded at the first modern Olympics smashed auction estimates, selling for nearly four times the expected price at a Danish auction house on March 1.
The 1896 Athens Olympic Games silver medal sold for $179,920 excluding buyer’s premium at a Bruun Rasmussen Arts Auctioneers online auction.
The price of the piece was estimated at between $31,100 and $31,600.
“We are very pleased with today’s result,” said Christian Grundvig, Head of Coins and Stamps at Brun Rasmussen.
“The Olympic Medal represents a ‘unicorn’ among international collectors – a rare combination of Olympic and cultural history. It is a piece of memorabilia of such exceptional caliber that news of the sale has reached audiences around the world.
“It is without a doubt one of the most notable numismatic sales in the history of our auction house.”
Engraved by French artist Jules-Clement Chaplain, the medal shows Zeus holding a globe surmounted by Nike, the Greek goddess of victory, waving an olive branch.
The reverse shows the Acropolis and Parthenon with a Greek inscription translating to the International Olympic Games – Athens 1896.
The historic 1896 Games featured 241 athletes from 14 countries.
While the auction house said Viggo Jensen had become the first Danish Olympic weightlifting champion, it was unable to confirm whether the medal had been awarded specifically for this achievement.