According to the Golden Legend, an elderly couple prayed to St Nicholas for a child and their prayers were answered with the birth of a son. In gratitude the father promised a precious gold cup to the Saint's shrine but later regretted his promise and had a cheaper replica made instead. While the family were travelling by ship to deliver this substitute offering, the son fell overboard (here aided by a demon with a flesh hook) with the cup and was lost. The dénouement follows in panel 17.