A drawing of the Magi kneeling centre before the Virgin and Child; beyond, their retinue with camels and an elephant.  Popham (in P&W) noted a resemblance to the tapestry designs from Raphael's posthumous circle, 'della Scuola Nuova', and that while the figure types are those of Giulio Romano, the drawing technique is more akin to that of Biagio Pupini: 'it must be a copy by some artist of that type'. A. Ballarin (1975) and Stefano l'Occaso (2014, both corresp.) attributed the drawing to Girolamo da Carpi, 'in his most Giuliesque phase'; the group on the right, taken partly from Giulio's frieze in the Camera degli Stucchi in Palazzo Te, is close to that in Girolamo's Adoration of the Shepherds in the National Gallery.

Another version of the drawing is in the Uffizi, Santarelli 486, as GF Penni.