Ammon News - A medal awarded at the first modern Olympic Games smashed auction estimates, selling for about four times its expected high price at a Danish auction house on Sunday.

The silver medal from the 1896 Athens Olympics was hammered down for DKK 900,000 ($141,658.67) excluding buyer's premium, or DKK 1,152,000 ($181,323.09) including fees, at Bruun Rasmussen Arts Auctioneers' online sale. The piece had been estimated to fetch between DKK 200,000-300,000 ($31,480-$47,220).

Engraved by French artist Jules-Clement Chaplain, the medal features Zeus holding a globe topped by Nike, the 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, including Denmark. While the auction house stated that Viggo Jensen became the country's first Olympic weightlifting champion, they could not confirm whether the medal was awarded specifically for this achievement.

Reuters