The Breals Silver Cup, presented to Spyros Louis, the winner of the Marathon at the inaugural 1896 Athens Olympic Games.
The trophy was bought by the Eleusina, Greece-based Stavros Niarchos Foundation. The price set a record for Olympics memorabilia at auction, beating the previous high of 290,000 euros ($380,000) paid for a 1952 Helsinki torch.
"Our family has been very proud to have the honor of looking after this important historical sporting trophy for the last 116 years," his grandson, also named Spyros Louis, said in a press release e-mailed by Christie’s International.
The sale of Olympics memorabilia and vintage posters raised a total of more than 1.26 million pounds, including the premium.