As Luke Syson kindly points out this drawing relates to a small plaquette attributed to Belli, E.F. Benge, Die Italienischen Bronzen der Renaissance und der Barock, Berlin, 1922, II, no. 818, pl. 69. The plaquette was connected by Benge to an engraved gem and a medal by Jacopo Sannazaro. The architectural background and the beaded border of the present drawing appear in Belli's coin-like medal of Hypsicratia, Queen of Mithridates VI. It is possible that the present drawing is a study for an unexecuted medal, which Belli re-used for the composition of a plaquette. The rather crowded composition is better suited to the plaquette form. As there are no known drawings by Belli it is impossible to confirm the attribution