Could you give us the dimensions and a photo of the back of the frame? Also have you taken it out of the frame? If not, you should because you never know what might be behind it. To me it looks like exactly what you said it was. The first paragraph has should have the journalistic Who What Where When and other clues. Type that into an Italian to English online translator exactly as written and you might have some additional light shed. Unless, of course, you read Italian. It is a beautiful piece and would look great hanging in the right spot.