The 11in (27cm) long statue depicts the reclining, bearded figure on a base carved with stylised waves, in his right hand he is holding a fish, his left arm rests on an amphora.
As this has been drilled through, it is safe to assume that the figure was originally used as part of a fountain.
The figure was last on the market in 2009, when it was sold by Christie’s in New York. Prior to that it had been in a Parisian collection since 1980.
The estimate in Munich is €24,000.